BERLIN, July 24 Reuters Porsche39;s operating profit dropped 20.5 in the first half to 3.06 billion euros 3.32 billion, it said on Wednesday, after months plagued by problems ranging from supply chain issues to a sales slump in China.

The carmaker had on Tuesday cut its sales and returns forecast after shortages at a European aluminium supplier forced it to cut its projection for deliveries this year by between 10,00017,400 vehicles.

Updates to five out of six model lines, including the Panamera, Taycan and 911, in the first half of the year were impacting sales, inventories, and research and development costs, the company said.

Porsche39;s sales revenue fell 4.8 to 19.46 billion euros, just above estimates of analysts polled by LSEG.

Its operating return on sales was 15.7, on the lower end of the lower outlook for the year announced on Tuesday of 1517.

1 0.9217 euros

Reporting by Victoria Waldersee, Editing by Miranda Murray

Source Reuters