Q1 operating profit a ‘record’, says Yokohama

9th May 2014 | 0 Comments
 
Q1 operating profit a ‘record’, says Yokohama

Yokohama Rubber reports that its operating income reached a record high in the first quarter of 2014. On the back of net income of net sales that were up 9.6 per cent year-on-year to 139.9 billion yen (£810.9 million), operating income jumped 54.6 to 11.7 billion yen (£67.8 million). Net income, at 6.5 billion yen (£37.7 million), was 14.8 per cent higher than in the first quarter of 2013. Sales and earnings increased in each of Yokohama’s three business sectors: tyres, industrial products, and other products. The company says its tyre business’ strong performance reflected robust growth in Japan and sales growth overseas. Operating income benefited in each business sector from a downward trend in raw material prices and from the weakening of the yen, as well as from sales growth.

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