Michelin’s Q3 results ahead of forecasts; OTR tyres still in shortage

Paris — Michelin reported third quarter sales of Euro 3890 million, up 4.5 percent from the same period in 2004. The improvement was helped by favourable exchange rates, and the comapny said sales grew 3.3 percent at constant exchange rates.

The nine-month figures were 11 380 million, 1.5 percent ahead on the same period last year. The improvement was due to improved selling prices, as volumes in Europe were down 2.6 percent, while exchange rates had a small negative effect.

In its corporate stement, Michelin said, “Some…

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