Michelin’s income up 5.5 % despite ‘new’ 14 % hike in raw materials costs

By Liz White, ERJ staff

Paris-Groupe Michelin had a strong operating performance for the first half year-in contrast to the market, which is generally down, the group said. The French tyre maker had a rise in net income of 5.5 percent to Euro 386 million, on consolidated net sales of Euro 7490 million, a 0.1 percent rise over H1 2004.

Michelin said tyre markets were “generally down compared to the exceptionally strong first half 2004.” But the group said the strength of Michelin’s price mix (+5.1…

To read more,please login or register below.

Register
This is the first step to more free
content, user offers, subscriptions
and more.
Login
Log in here using the Email Address
and Password you signed up with