Bridgestone lifts forecast as H1 profits soar

Tokyo, Japan - Bridgestone Corp. said it expects its sales and profits to be higher than previously forecast, due to a weaker yen and improved sales.

The company raised its full-year forecast of net profit by three percent to 109 000 million yen (€659 million) for the year ending 31Dec. The announcement was made during the presentation of the comapny's half-year results in Tokyo.

For the first six months of 2007, Bridgestone reported sales of ¥1.615 million million (€9771 million), up by 13 percent on the same period of 2006. Operating income for the period rose by 21 percent, to ¥102 000 million (€617 million)

In the tyre segment, Bridgestone reported sales of ¥1.304 million million, an increase of 15 percent, but operating profit in creased by 30 percent, to ¥75 000 million. Diversified products performed less spectacularly, with sales up five percent and operating profits up by three percent.

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Press release from Bridgestone