Sumitomo Rubber Q3 net income up 7%, YTD 28% higher
For the nine months ending 30 September 2014, Sumitomo Rubber Industries reports net sales of 575.3 billion yen (£3.2 billion), a result 8.2 per cent higher than in the corresponding period of 2013. Operating income amounted to 49.1 billion yen (£269.3 million), a year-on-year increase of 14.2 per cent, while net income shot up 28.2 per cent to 31.7 billion yen (£174.2 million). From this total, net sales within the company’s tyre business rose 8.6 per cent to 500.7 billion yen (£2.7 billion) and operating income rose 14.6 per cent to 44.1 billion (£242.3 million).
In the third quarter alone, sales at Sumitomo Rubber increased six per cent to 197.2 billion (£1.1 billion), operating income also rose six per cent, to 14.0 billion (£76.8 million), while net income rose seven per cent to 9.9 billion (£54.3 million).
Full financial details for Sumitomo Rubber Industries can be found in our company profiles and reports section.