Michelin Full Year Sales Down
Michelin is expected to announce a small drop in sales to 15.54 billion Euro from 15.75 billion Euro.
Analysts say this is likely to be due to the weak dollar. They also suggest that Michelin will increase prices to meet growing costs of oil-based raw materials. An announcement from Michelin is expected later today after the close of the stock market.
Michelin’s full results are expected in two week’s time.The company’s share prices were pressured last Friday when Standard and Poor’s put the group on negative credit watch over unfunded pension liabilities. However they were given a 4.