Report: Bridgestone to Announce 26% Profit Fall at Year End
Bridgestone Corp is expected to announced a sharp fall in group operating profits as a result of rising rubber prices. According to the Nihon Keizai Shimbun daily financial newspaper, Bridgestone could announce a fall of up to 26 per cent in its operating profits compared with the last financial year.
New sources now expect Bridgestone’s group operating profit for the year ending 31 December to fall to about 185 billion yen ($1.74 billion), down from the company’s initial estimate of 195 billion yen. Thomson Reuters estimates put the analyst consensus forecast for Bridgestone’s operating profit this year at about 189 billion yen.