Bridgestone Revises 2008 Fiscal Projections – Again

Finally, some good news from within the tyre industry. Bridgestone, which on January 29 revised its 2008 fiscal year financial projections, has done so again – but this time upwards. Net sales have, admittedly, been downwardly revised, by 20,000 million yen to 3,230,000 million yen (£23.77 billion). However operating income, now estimated to be 131,000 million yen (£964.15 million), has increased 11.0 per cent in the latest projection. Likewise, projected ordinary income has been upwardly revised to the tune of 15.6 per cent, and now stands at 74,000 million yen (£544.64 million). Net income jumps by a third to 10,000 million yen (£73.60 million).

Upon announcing these revised projected figures, Bridgestone management said it expects an increase in operating income, ordinary income and net income in the 2008 fiscal year over those previously announced “due in part to the effects of decreasing manufacturing costs and selling, general and administrative expenses.”