Jaguar Land Rover posted a loss of over £400m in its latest financial year, citing a global computer chip shortage and Russia's war with Ukraine.
The car manufacturer, which has a site in Halewood, said production and sales had been 'significantly impacted' by the global chip shortage. It reported a pre-tax loss of £455m, which included an 'exceptional charge' of £43m for its business in Russia.
In comparison, the company posted a £662m profit, before exceptional items, in the 12 months to March 31, 2021. Revenue also fell by 7% to £18.3bn in the year to March 31, 2022, reports BusinessLive.
