Bridgestone increases profit forecast for year

From Rubber & Plastics News

Tokyo-Bridgestone Corp. has boosted its net profit forecast for fiscal 2004 by 39 percent, citing continued sales growth, improved tire prices and a better product mix.

Bridgestone increased its forecast despite expecting a challenging business environment throughout the rest of the year, company management said in a prepared statement. Bridgestone now expects 2004 net profit of about $945 million (4.4 percent of sales) instead of the $680 million forecast six months ago. The revised figure would be 17-percent better than the $800…