Predictions: Pirelli First Half Net Profit Down 6.7 per cent

A consensus of financial analysts has predicted that Pirelli’s first half consolidated net profit will come in at 165 million euros (down 6.7 per cent) compared with 177 million euros at the same point last year. The projections are based on the estimates of eight analysts polled by Dow Jones.

Higher tax payments than last time are expected to have weighed on the first half 2006 result. Analysts are expected to pay particularly close attention to the conference call for more details on Telecom Italia’s new strategic shift. .