Sumitomo Rubber reports strong Q1 2024 profit growth

Sumitomo Rubber Industries (SRI) reports a 5.3 per cent year-on-year increase in sales revenue during the quarter ending 31 March 2024, to ¥291,360 million (£1,482.03 million). Business profit surged by 190.7 per cent to ¥23,183 million (£118.04 million), operating profit rose by 166.5 per cent to ¥20,696 million (£105.31 million) and profit attributable to owners of the parent jumping by 520.2 per cent to ¥24,841 million (£126.47 million).