Sumitomo 9-month income slightly down

For the nine months from 1 January to 30 January 2011, Sumitomo Rubber Industries has reported net sales of 467.6 billion yen (£3.8 billion), a year on year-increase of 10.1 per cent. Sales in the third quarter alone amounted to 167.9 billion yen (£1.4 billion). Operating income for the nine month period totaled 29.4 billion yen (£238.2 million), a 2.5 per cent year-on-year improvement, while operating income in the third quarter came to 9.6 billion yen (£77.8 million). Net income between January and September was 13.7 billion yen (£111.4 million, 2.2 per cent lower than in the corresponding period of 2010, while net income for the most recent quarter totaled 4.8 billion yen (£38.9 million).

The company’s Tires business performed well; segment net sales during the nine months to September 30 amounted to 406.4 billion yen (£3.3 billion), up 13.6 per cent year-on-year, while they came to 148.6 billion yen (£1.2 billion) in the third quarter alone. Operating income in the Tires business was 27.4 billion yen (£221.9 million) between January 1 and September 30, a year-on-year rise of 21.8 per cent, while during the three months to September 30 it amounted to 9.4 billion yen (75.9 million).