Sumitomo Rubber Industry’s 2012 income jumps double digits

ERJ staff report (TB)

Kobe, Japan – Sumitomo Rubber Industries Ltd. (SRI) reported double-digit gains in fiscal 2012 operating income on 4.9 percent higher sales, reports Tire Business.

Operating income jumped 29.3 percent to $873.9 million, or 9.8 percent of the firm’s $8.9 billion in sales last year. Net income rose 24.9 percent to $444.2 million, or 5 percent of sales.

SRI’s tire business reported 2012 operating income of $790.6 million, up 29.2 percent over 2011. Sales rose 5 percent to $7.76 billion.

Capital spending was up 15 percent…

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