Weaker 2003 For Bridgestone Australia

Raw material price uncertainty is likely to pull down Bridgestone Australia’s profits for 2003. This follows significant rises in the prices of natural and synthetic rubber. The company reported a profit of 12.

6 million Australian Dollars for 2002, a 41.2 per cent rise on the previous year. Total revenue rose from 513 million dollars to 517 million dollars.

The improvements in profitability came from non-tyre related business and reduced borrowing costs. A company spokesman said that the tyre business in Australia remained marginal and directors are concerned that significant improvements in productivity and reduction in manufacturing costs will be required to sustain this business into the future..