Pirelli: all nine-month indicators improved

Pirelli & C. SpA has reported that in the nine months ending 30 September 2011, the tyre manufacturing group saw "all economic indicators improved over the period," with revenues growing by 17.9 per cent to 4,265.8 million euros and profitability – understood as the ratio of the operating result to sales – by 10.6 per cent.

The total consolidated net result for the first nine months was 251.3 million euros, an increase of 56.8 per cent compared with 160.3 million euros on a like-for-like basis (before discontinued operations) in the first nine months of 2010. For Pirelli Tyre, which now represents 99 per cent of sales, the first nine months of 2011 saw a significant increase in sales (up 18.7 per cent to 4,225.7 million euros) and a further increase in profitability, with pre-tax profits (EBIT) reaching 11.5 per cent compared with 9.4 per cent in the first nine months of 2010.

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