Second Quarter Results From Goodyear
Goodyear has released its 2nd quarter financial results. At $3.58 billion, Q2 turnover was slightly up from Q1 ($3.4 bn) and around the same as for Q2 last year. Profits after tax were $7.8 million, nearly 90 per cent down on the figure for Q2 2000 of $77.1 m. However, Q2’s profits were a vast improvement on the $46.7 m loss recorded in Q1 2001, due largely to increased business from the replacement of Firestone tyres on Ford Explorers. For the first half of 2001, Goodyear posted a net loss of $38.9 m, compared to a profit of $125.3 m for H1 2000. Regarding the rationalisation programme, 5,800 jobs have been lost from the proposed total of 7,800.