Bridgestone H1 Results Highlight Across the Board Growth
On August 9 Bridgestone released its consolidated business and financial results for the January 1 – June 30 period. Net sales during this half year, at 1615.6 billion yen (£6.69 billion), were up 13 per cent on last year, an increase partially brought about through an exchange gain on the weaker Japanese yen. Operating income increased 21 per cent from 84.1 billion yen (£348 million) to 102 billion yen (£422.16 million) and ordinary income increased 29 per cent to 91.3 billion (£377.88). Net income, at 52.9 billion yen, was 61 per cent higher than a year earlier.
Operating income from the sale of tyres increased 30 per cent to 70 billion yen (£290 million) on a 15 per cent increase in sales, to 1304.7 billion yen (£5.4 billion). Bridgestone states that it sought to maximise tyre sales momentum through the ongoing introduction of new products worldwide, while at the same time expanding strategic production sites in support of products that have been identified as important to the company’s growth.
The company’s sales in Europe increased 26 per cent to 251.9 billion yen (£1.04 billion), again in part due to the weaker yen. Operating income was up 21 per cent to 7.9 billion yen (£32.7 million) despite increased raw material costs. Unit sales of passenger car and light truck tyres grew steadily, while unit sales of truck and bus tyres increased significantly over the previous first half.