Bridgestone raises expectations for first-half profits

ERJ staff report (DS)

Tokyo -- Bridgestone Corp has revised upwards its projections for sales and profits for the first half of 2010. The new forecast replaces that issued on 19 Feb this year. Bridgestone has not yet revised its full year expectations, due to a changing situation in raw material prices.

The company now says net sales in the six months to June 2010 will reach yen 1360 billion (euro 11 556 milllion), up from the previous forecast of yen 1320 billion. This compares with yen 1205 billion reported in the first half of 2009.

Ordinary income, however is now expected to reach yen 41 billion (euro 348 million), up from the previous forecast of yen 16 billion, and compares with a loss of yen 33 866 billion a year ago.

The company said the increase is due to increased unit sales and better amortisation of fixed costs due to higher volumes.

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Press release from Bridgestone