Sumitomo Sales Surpass £2 Billion in H1, 2010

Half year results for Sumitomo Rubber Industries show net sales increasing 22.2 per cent to 280,797 million yen (£2.1 billion). During this six month period to June 30, 2010 operating income amounted to 20,342 million yen (£151.4 million), representing a margin of 7.2 per cent. Net income was 10,438 million yen (£78.1 million) as opposed to a 6,892 million yen a year earlier and represented a margin of 3.7 per cent.

Net sales of tyres increased 25.8 per cent to 234,310 million yen (£1.8 billion), a figure that represents 83.4 per cent of Sumitomo’s total business. Operating income for the tyre segment came to 15,361 million yen (£114.9 million), as opposed to an operating loss of 2,394 million yen a year earlier.