Higher volumes, demand help Michelin income growth in 2016

Clermont-Ferrand, France –  Higher volumes and a rebound in demand in China and Europe have helped Michelin register growth in operating income for the full year 2016, the French tire-maker announced on 14 Feb.

Net sales for full fiscal year 2016 fell by 1.4% to €20 billion, while operating income from recurring activities rose 3.7% to €2.7 billion. Net income rose from €1.16 billion to €1.66 billion in 2016.

“2016 represented a successful milestone in our strategic roadmap,” said CEO Jean-Dominique Senard, adding that 2017 was expected to…

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