Bridgestone cautious about profit growth due to Europe crisis
Bridgestone executives have aired a degree of caution relating to the tyre major’s earnings outlook for this year. According to various news sources Bridgestone Corp.'s chief financial officer on suggested the impact of the euro-zone debt crisis is affecting demand, which in turn is weighing on its business.
While the company didn’t issue a definitive profit warning, CFO Akihiro Eto did tell reporters: “It looks better if we view our outlook more cautiously compared with our forecast given at the beginning of the year.”
He also highlighted some degree of domino effect from the crisis in Europe on Bridgestone’s Chinese, but not apparently on other markets in Asia.
Nevertheless recent results show that the Bridgestone’s profits have continued to rise this financial year, Eto told journalists the company will update its forecasts when it its first-half earnings in August.
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