Pirelli doubles H1 profit, expects improvement for full year

Milan, Italy — Pirelli & C SpA has announced its results for the first six months of 2005. The company said the group’s net profit was up to Euro 210 million (H1/2004: Euro 104 million), while group revenues rose 10 percent to Euro 2281 million (2016 million).

The company said it recorded an extraordinary gain of Euro 1200 million following the sale of Pirelli Cables and Systems.

Within the tyre division, revenues rose 8.3 percent, to Euro 1796 million, while operating profit was up 21 percent…

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