Jan 20 (Reuters) - Industrial giant 3M posted an increase in fourth-quarter adjusted profit on Tuesday, as ‌cost cuts and price hikes ​drove an improvement in profit margins.

Cost cuts and ‍the introduction of new products under CEO Bill Brown have ⁠helped 3M shore ‍up margins, cushioning the company from ‌weak ‌consumer demand against a prolonged inflationary backdrop.

The company's adjusted profit stood at $1.83 ⁠per ⁠share ​during the period, compared with $1.68 per share a year earlier.

3M ‍reported revenue of $6.1 billion during the fourth quarter, up 2.1% ​from a year ‍earlier.