Bridgestone revises forecasts yet again - this time upwards

ERJ staff report (DS)

Tokyo -- Bridgestone Corp. has issued yet another revised its forecast for the year 2008. This time, the news is more optimistic, as the company expects higher profits than before. The company most recently issued a downward forecast on 31 Jan, immediately after the EC imposed a large fine on the company following its involvement in the marine hose cartel.

The new forecast predicts ordinary income for the year will be Yen 74 000 million (Euro 630 million), up from the previous forecast of Yen 64 000 milion, but still far below the FY2007 result of Yen 219 000 million.

The company still forecasts an after-tax profit, with net income at Yen 10 000 million, down from Yen 132 000 million a year ago.

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Press release from Bridgestone