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…

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