Bridgestone markedly lifts margins, improves European performance in Q1
During the first quarter of fiscal 2014, Bridgestone achieved net sales of 863.6 billion yen (£5.0 billion), an 8.7 per cent year-on-year increase on the 1 January to 31 March 2013 quarter. Operating income was 116.3 billion yen (£677.1 million), up 56.3 per cent year-on-year, while operating margin rose from 9.4 per cent a year ago to 13.5 per cent in the first quarter of 2014. Net income increased 66.9 per cent year-on-year to 71.9 billion yen (£418.6 million).
Net sales within the company’s tyre business increased 7.7 per cent year-on-year to 727.0 billion yen (£4.2 billion), while operating profit rose 55.8 per cent to 105.8 billion yen (£616.0 million) and the operating margin increased 4.5 per cent to 14.6 per cent. Unit sales of passenger car and light truck tyres in Europe increased strongly compared with the same period of last year, as did truck tyre unit sales. The region’s net sales (for both tyres and diversified products) increased 19.8 per cent year-on-year to 112.0 billion yen (£652.1 million), while operating profit rose from -4.7 billion yen a year ago to 6.2 billion yen (£36.1 million) in Q1 2014. Operating profit margin developed from -4.7 per cent a year ago to 6.2 per cent.