Sumitomo sells more, earns less in H1

According to Sumitomo Rubber Industries’ interim financial results for 1 January to 30 June, the Japanese made net sales of 333.7 billion yen (£2.3 billion). Despite this 3.6 per cent year-on-year rise in net sales, operating income fell 7.9 per cent to 29.7 billion yen (£194.9 million) and net income 6.7 per cent to 15.5 billion yen (£101.5 million).

The company’s net tyre sales rose 3.4 per cent year-on-year to 297.8 billion yen (£2,0 billion), while operating income from the tyre segment decreased 5.9 per cent to 26.3 billion yen (£172.6 million).