SRI: Tyre income down 36% in Q2 2017

For the second quarter of 2017, Sumitomo Rubber Industries has reported sales of 403,777 million yen (£2.8 billion), a 12.4 per cent year-on-year increase. Operating income during the three months to 30 June declined 27.1 per cent to 21,236 million yen (£147.0 million), while net income, at 12,429 million yen (£86.0 million), was down 31.0 per cent year-on-year.

The company’s Tire Business accounted for 85.7 per cent of total sales in Q2 2017, with sales up 13.1 per cent year-on-year to
346,220 million yen (£2.4 billion). Income within the business unit decreased 35.7 per cent to 17,423 million yen (£126.6 million).