Record Second Quarter For Cooper

Cooper Tire & Rubber has published its results for the second quarter, which showed a Q2 record net income of $39 million; an increase over last year’s 2Q figure of 113 per cent. Sales were up one per cent to $836 million and Cooper managed to reduce debt by $29 million. Sales for the first six months totalled $1.

6 billion; a 4 p.c. rise over 1H, while net income was up 196 p.

c. over the same period last year, at $65 million. 2Q tyre operation sales were $414 million ($433 m 2Q 2001) with operating profit up 39 p.

c. to $37 million. The company’s North America unit volumes for 1H have risen by almost 5 p.

c., against a decline for the industry of around 2 p.c.