Sumitomo's sales up but income down in 2007

ERJ staff report (SS)

Kobe, Japan -- Sumitomo rubber industries reported higher sales, but reduced profits for the 12 months ended 31 Dec. 2007.

The company said sales increased by six percent, to Yen 567 306 million ( Euro 3583 million) while net profit fell by 30 percent, to yen 19 500 million (Euro 123 million.) Operating profits, however were in line with the sales growth, at Yen 45 126 million, up from Yen 36 789 million a year earlier.

The company said its tyres activity generated yen 478 500 million in sales, with the industrial products unit producing sales of Yen 31 928 million and sporting goods generating yen 59 893 million.

Total capital expenditure of Yen 55 780 million was mainly devoted to the tyre activity (¥51 577 million), with Sports (¥3178 million) and industrial goods ( ¥1025 million) trailing far behind.

Net sales in Japan rose by over ¥20 million to ¥488 163 from ¥466 793, year-on-year.

Outside of Japan, the biggest increase in sales was in “other areas,” with countries outside of North America, Europe and Asia showing an increase of over ¥16 million to ¥82 064 from ¥66 432 in year-end 31 Dec 2006.

North America showed the second largest intake, with sales rising from ¥64 430 million to ¥76 282 million in 2007, compared to the same period in 2006.

Sales in Europe were the lowest, dropping from ¥31 494 million in 2006, to ¥ 26 790 million in 2007.

This is an external link and should open in a new window. If thewindow does not appear, please check your pop-up blocking software. ERJis not responsible for the content of external sites.

Results from Sumitomo