26 Oct 2005
Tokyo -- Yokohama Rubber Co. Ltd. is revising upward its earnings and sales forecast for the half-year ended Sept. 30, based on increased overseas tyre sales and a profit improvement in North America.
Yokohama now expects to report net income of $115.9 million and sales of $1770 million, 8.3- and 2.3-percent increases, respectively, over the earlier projection disclosed in August.
The updated projections represent a sales increase of 5.4 percent and an 18-fold improvement in net earnings over the first half fiscal 2005 figures.
Yokohama also cited the weaker-than-expected foreign exchange rate of yen, which especially will affect the ordinary profit.
From Rubber & Plastics News (A Crain publication)
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