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You are here: Home1 / net sales

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Nokian Tyres revises forecast – sales, operating profit to decline

Company News, International News

Due to a weaker economic forecast for Russia and the CIS, Nokian Tyres has downgraded its guidance for 2014 and now says net sales and operating profit will decline this year compared with 2013. This latest forecast replaces that published on 7 February, in which Nokian Tyres said it was positioned to show growth in net sales and operating profit this year.

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Related news:

  1. An Untapped Resource? Nokian’s Kazakhstan factory bid
  2. Half Year Loss Reported By Nokian Tyres
  3. Turnover And Profits Up For Nokian
  4. Nokian employs ‘C3’ system to organise product and materials scheduling
3rd April 2014/by Tyrepress Editors

SRI net income up 26.4% in 2013

Company News

Japan’s Sumitomo Rubber Industries has reported net sales of ¥780,608 billion (€4.57 billion) for the 2013 financial year, 9.9 per cent higher than in 2012. Annual operating income amounted to ¥77,055 billion (£450.74 million), up 10.5 per cent year-on-year. Net income, at ¥44,794 billion (£262.03 million), was 26.4 per cent higher than in 2012. Net income per share was ¥170.75 (£1.00).

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Related news:

  1. “Sam” Gibara Joins SRI Board
  2. Sales Down, Income Up at Yokohama Rubber
  3. Toyo Increases European Tyre Sales 12% in H1, 2010
  4. Sumitomo’s CSR report now available in English
19th February 2014/by Tyrepress Editors

Bekaert in talks to buy Pirelli steel cord business, says paper

Company News

According to an article published in Italian newspaper La Repubblica today, Pirelli intends to divest its ‘Steelcord’ business and has attached a €250 million price tag to it. The publication says Pirelli is now in the final stages of negotiations with Bekaert regarding a potential sale.

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Related news:

  1. Bekaert’s De Graeve Elected Belgium’s ‘Manager of the Year’
  2. Bridgestone Revises 2009 Financial Projections
  3. Bekaert takes on Pirelli steel cord business for €255 million
  4. Pirelli profits up after increasing premium segment activities in 2014
13th December 2013/by Tyrepress Editors

Nexen OE sales up 47% in Q3

Company News

During the third quarter of 2013, net sales at Nexen Tire Corporation declined 2.9 per cent to KRW 438.5 billion (£253.9 million), the company reports. Gross profit rose 3.6 per cent compared with a year earlier to KRW 124.7 billion (£72.2 million) while operating profit was 12.1 per cent down at KRW 46.3 billion (£26.8 million). EBITDA was 3.1 per cent lower at KRW 71.9 billion (£41.6 million), with the margin stable at 16.4 per cent.

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Related news:

  1. Nexen Tire sales, profit increases in Q2
  2. Nexen Q1 results
  3. Yokohama 2013 net income climbs 7.3%
  4. Toyo increases turnover and operating profit – but net profit down in 2013
4th November 2013/by Tyrepress Editors

Ceat YOY profit surges

International News

India’s Ceat Limited has reported a nine per cent growth in year-on-year revenues for the quarter ending 30 September 2013. On a standalone basis, revenues in this second quarter of the company’s financial year rose to Rs 12.63 billion (£127.6 million). Pre-tax profit rose from Rs 41 million in the second quarter of 2012 to Rs 1.1 billion (£11.1 million) in the most recent quarter. EBITDA for the second quarter of the 2014 financial year stood at 13.1 per cent, compared with 6.7 per cent in the corresponding quarter of the previous year.

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Related news:

  1. SRI net income up 26.4% in 2013
  2. Ceat Ltd: Profit drops 99%
  3. Tyre Sector is India’s Second Best Performer
  4. Ceat sales up 10%
28th October 2013/by Tyrepress Editors

Sumitomo sells more, earns less in H1

News

According to Sumitomo Rubber Industries’ interim financial results for 1 January to 30 June, the Japanese made net sales of 333.7 billion yen (£2.3 billion). Despite this 3.6 per cent year-on-year rise in net sales, operating income fell 7.9 per cent to 29.7 billion yen (£194.9 million) and net income 6.7 per cent to 15.5 billion yen (£101.5 million).

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Related news:

  1. Cheng Shin Rubber sales, profits set to rise – Morgan Stanley
  2. Sumitomo Rubber Reports Half-Year Figures
  3. Toyo Reports ¥10 Billion Net Loss for Financial Year
  4. Sumitomo Reports Ninefold Increase in Net Income
21st August 2013/12,345 Comments/by Tyrepress Editors

Bridgestone Q2 profit reaches 73.9b yen

News

Bridgestone Corporation’s consolidated financial statements for the second quarter and first half of 2013 show a considerable increase in net sales, operating and net income during the period. Net sales amounted to 1,705 billion yen (£11.4 billion) between 1 January and 30 June 2013, 14.4 per cent higher than in the same period of 2012. Operating income rose 42.3 per cent to 190.4 billion yen (£1.3 billion) and net income was up 55.5 per cent to 117.0 billion yen (£784.3 million). Net income per share increased from 96.17 yen to 149.52 yen (£1.00).

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Related news:

  1. Higher sales, profits in revised Bridgestone projections
  2. Yokohama’s bottom line hit in H1 2011
  3. Bridgestone Europe announces further price increases
  4. Bridgestone First Half Results Confirm Four Pence Dividend
12th August 2013/12,345 Comments/by Tyrepress Editors

Cheng Shin Rubber sales, profits set to rise – Morgan Stanley

News

According to a recently published consolidated financial summary for Cheng Shin Rubber, the Taiwanese tyre maker’s net sales and profits are expected to steadily climb over the next couple of years.

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Related news:

  1. Sumitomo sells more, earns less in H1
  2. Third Quarter Results For Cooper
  3. Toyo Reports Record 11% Sales Increase
  4. Toyo Results Highlight Financial Difficulties
15th May 2013/12,345 Comments/by Tyrepress Editors

2012 sales, profits down at Goodyear India

News

Goodyear India Ltd. has reported a 2012 fiscal year net profit of Rs 563.2 million (£6.9 million), 12.8 per cent lower than the previous year’s result. Net sales for January to December 2012 amounted to Rs 14,812.9 million (£181.5 million), down 2.2 per cent year-on-year, while profit from operations before other income, finance costs and exceptional items was Rs 711.7 million (£8.8 million), a year-on-year decrease of 23.2 per cent.

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Related news:

  1. Goodyear India to Pay Dividend – updated
  2. Goodyear India Shares up 10 per cent
  3. Goodyear India Releases Q4, Annual Figures
  4. Strike blamed for weaker Ceat profit
28th February 2013/12,345 Comments/by Tyrepress Editors

Myers Industries reports 40% increase in full-year EPS

News

Myers Industries has reported full-year 2012 figures, which feature a 40 per cent increase in earnings per share (EPS) growth. This was reportedly driven by productivity gains and new product introductions. 2012 net sales were US$791.2 million compared with $755.7 million in 2011. However, it has to be said that this was mainly held up by strong sales performance in the Engineered Products and Material Handling Segments. In fact, according to the company, it was the relative strength of these segments that “more than offset sales decreases in the Distribution and Lawn & Garden Segments.

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Related news:

  1. Michelin adds tyre tips, advice to US website
  2. Eibach Precision Alignment Range
  3. MAC Tools raises £4,100 for BEN
  4. Delphi reconfirmed as The Parts Alliance preferred supplier
14th February 2013/12,345 Comments/by Tyrepress Editors

Govind profits up 248%

News

India’s Govind Rubber Ltd has reported net sales of Rs 782.3 million (£8.9 million) for the three months to 30 June, a 35.6 per cent year-on-year increase. Net profit, at Rs 10.1 million (£), was up 248 per cent on the corresponding quarter of 2011. The tyre maker recently announced an Rs 8.5 billion (£115,500) expansion project at its Alwar plant in India, and the company also intends to set up a new greenfield facility in Dahej. According to company chairman and managing director Vinod Poddar, the new facility will have a daily capacity of 225 tonnes.

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Related news:

  1. JK Tyre an “attractive bet”, says analyst
  2. Sumitomo Rubber to Build Chinese PCR Tyre Factory
  3. JK Tyre Seeking 20% Indian Market Share
  4. Record year in sights after good H1, says Conti
21st August 2012/by Tyrepress Editors

Nexen Tire sales, profit increases in Q2

Company News

During the second quarter of 2012 Nexen Tire achieved net sales of KRW 433.3 billion (£242.8 million), the Korean tyre maker reports. This result represents year-on-year growth of 29.8 per cent. Gross profit, at KRW 118.6 billion (£66.4 million), was up 49.2 per cent year-on-year and a margin of 27.4 per cent was reached. Operating profit amounted to KRW 51.8 billion (£29.0 million), up 90.1 per cent year-on-year, and a margin of 12.0 per cent was achieved. Ordinary profit came to KRW 42.7 billion (£23.9 million), 51.8 per cent higher than in the corresponding quarter of 2011. EBITDA, at KRW 72.3 billion (£40.5), was up 62.2 per cent year-on-year and had a margin of 16.7 per cent.

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Related news:

  1. Nexen OE sales up 47% in Q3
  2. Kumho Q1 Sales 18% Up Year-on-Year
  3. Hankook Sees Q2 Profits Surge
  4. FY2010 sales stable, profits down at Toyo
21st August 2012/by Tyrepress Editors

MRF more than quadruples quarter profit

Company News

MRF Ltd says its net profit increased 352 per cent year-on-year in the quarter ending 30 June 2012. The Indian tyre maker says it posted a net profit of Rs.1,445.6 million (£16.6 million) in the three-month period, up from Rs. 319.5 million in the corresponding quarter a year earlier. Net sales rose 16.6 per cent to Rs 30,118.9 million (£346.3 million) during the same period. Operating profit margin increased from 5.9 per cent to 10.7 per cent year-on-year.

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Related news:

  1. Bridgestone Q3 punctuated by growth
  2. Sumitomo Reports Ninefold Increase in Net Income
  3. Agri OE Sector Weakness Affect Trelleborg Tyre Sales
  4. Strike blamed for weaker Ceat profit
3rd August 2012/by Tyrepress Editors

Ceat sales up 10%

News

India’s Ceat Tyres has posted a consolidated net profit of Rs 290 million (£3.3 million) for the quarter ending 30 June. Net sales increased to Rs 12.2 billion (£139.9 million) during the three-month period. “Despite relatively weak market conditions due to lower OEM demand, rising fuel costs and depressed economic sentiments locally as well as globally, we managed to close the first quarter of this fiscal year on a positive note,” commented Ceat managing director Anant Goenka. “We will continue to focus on improving our product mix and operational efficiencies. In FY13, our priorities will be to ramp up our radial plant at Halol to full capacity, strengthen the brand and expand internationally.”

Read more

Related news:

  1. Ceat Launches “Ceat Pro” Knowledge Series
  2. Margins still tight in India despite lower rubber prices
  3. Indian CV tyre radialisation may reach 40% in two years
  4. Ceat passenger range to arrive in Europe this year
1st August 2012/by Tyrepress Editors

Strike blamed for weaker Ceat profit

Company News

India’s Ceat Limited has released its results for the quarter between 1 October and 31 December 2011, a period in which net sales rose 18.2 per cent to Rs 10.48 billion (£132.45 million). Yet the tyre maker reports that “results for the quarter were adversely impacted by an illegal stroke of workers at [the] Nasik factory” which lasted from 30 September to 22 October. And when Ceat says results were adversely impacted, it means that quarter net profit sank 52.3 per cent year-on-year to Rs 23.90 million (£302,000).

Read more

Related news:

  1. Sumitomo Reports Ninefold Increase in Net Income
  2. Sumitomo Sales Surpass £2 Billion in H1, 2010
  3. Increased costs driving Ceat profits down
  4. Despite positive H1 results, Apollo wary of slowing growth
25th January 2012/by Tyrepress Editors
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