Sumitomo reports double-digit earnings growth in 2004

Kobe, Japan –Sumitomo Rubber Industries Ltd. reported double-digit improvements in operating and net income last year as sales grew 4.5 percent.

Sumitomo’s operating profit climbed 20.6 percent to $402.5 million and net income jumped 46.4 percent to $169.5 million as sales hit $4160 million. The earnings gains improved the firm’s earnings ratios by more than a full point each, to 9.7 and 4.1 percent, respectively.

The earnings gains were paced by Sumitomo’s industrial products and sports sectors, the former turning a $10 million loss into…

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