Cooper Third Quarter Sales And Profits Up

Cooper Tire & Rubber has reported its third quarter figures. Net sales were up 6 per cent to $839 million (3Q 2001: $791 m). Operating profit was $55 million and net income was $23 million, 28 per cent up on the 3Q 2001 figure of $18 million.

Comparing the first nine months with the same period last year, net income rose 87 percent, from $47 m to $88 m, while operating profit was $195 m, compared to $137 m. Cooper’s tyre sales in North America declined by one per cent during 3Q, but this compared to an industry decline of nearly 8 per cent. Operating profit for the tyre group in 3Q was $27 m.