Sports Goods Sales Lift SRI 1H Profits

Sumitomo Rubber Industries has reported a 50 per cent rise in net profit for the first half of the year, up to 4.79 billion Yen (US$ 40.77 million), compared with 3.

2 billion Yen $27.25 m) in 1H 2002. Tyre sales were described as “sluggish” and the figures were boosted by strong sales of sporting goods (notably golf clubs and balls), where operating profits were up 56 per cent, and by cost-cutting measures.

SRI maintained its forecast of a record 11 billion Yen ($93.6 m) for the full year..