Bridgestone plunges into red as sales fall 29 percent

ERJ staff report (DS)

Tokyo -- Bridgestone has reported sales down by 28.8 percent for the quarter ended March 2009. The plunge left the company with an operating loss of yen 12 350 million (euro 93.1 million) and a net loss of yen 34 880 million (euro 263 million) for the period. Sales in the period were Yen 567 670 million (euro 4280 million), down from yen 797 840 million a year ago.

Bridgestone said it now expects to see a loss for the six months ended 30 June, 2009, with conditions in the secnd quarter of 2009 no better than those in the first quarter. The company said sales for the six months would be around yen 1.2 million million (euro 9046 million), but the operating loss would increase to yen 40 million, while net profit would rise to yen 62 million.

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results and forecast from Reuters