Kobe, Japan –Sumitomo Rubber Industries Ltd.’s operating earnings grew 18.7 percent in the first half of 2005 while sales, led the firm’s tyre division, improved 6.3 percent.
Sales from outside Japan increased 18.5 percent during the period, including a 26.1-percent rise in North America. Sumitomo didn’t comment on the results.
Sumitomo’s operating income for the six months rose to $186.4 million, while sales grew to $2090 million. Net earnings nearly tripled to $108.5 million.
Sumitomo’s tyre business reported 44.8-percent higher operating income of $132.9 million on 9.8-percent higher…