3 Mar 2006
Kobe, Japan - Sumitomo Rubber Industries Ltd., led by its tyre business, reported solid gains in earnings and sales last year.
Operating income grew 9.7 percent last year to $453.5 million while sales increased 9 percent to $4.7 billion. Net income jumped 33.8 percent to $232.9 million.
Sumitomo did not comment on the results or issue any forecasts for 2006.
Sumitomo´s tyre segment reported a 20.7-percent gain in operating income to $360.8 million on 11.6-percent better sales of $3620 million, raising the earnings/sales ratio nearly a full percentage point to 10 percent.
From Rubber & Plastics News (A Crain publication)
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