Bridgestone reports 92 percent fall in net profit -- in line with forecasts

ERJ staff report (DS)

Tokyo -- Bridgestone has announced a sharp fall in consolidated profits for the 12 months to December 2008, but the numbers are in line with recent guidance from the company.

Bridgestone said net sales amounted to yen 3.234 million million (euro 27 235 million), down slightly from the yen 3.390 million million reported a year ago. Operating profit fell 47 percent, to yen 131 500 million, while net income fell by 92.1 percent to yen 10 412 million (euro 87.7 million), compared with yen 131 630 million a year ago

Bridgestone said the whole year and especially the fourth quarter had been challenging. it noted that the recession which emerged in the final quarter had been a major influence on the company's operations and results.

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Press release from Bridgestone