Strong growth for Sumitomo Rubber Industries in H1 2014
Robust growth was once again order of the day at Sumitomo Rubber Industries (SRI). The company reports that in the first half of 2014 its turnover has increased to 379 trillion yen (£2.2 billion). This growth almost exclusively came through the company’s tyre business; SRI is the second largest Japanese tyre maker and its active worldwide with the Dunlop (outside of Europe and North America) and Falken brands.
Operating profit jumped 18 per cent year-on-year to 35 trillion yen (£204.2 million) and achieved a margin of 9.3 per cent; the margin for the company’s tyre business was even higher at 9.9 per cent. Net profit for the first half of 2014 was up 41.1 per cent year-on-year to 22 trillion yen (£128.3 million).
Detailed financial information for Sumitomo Rubber Industries can be found here.