Profit almost doubled – Michelin publishes UK financials
In its financial results for 2023, published with Companies House on 2 July, Michelin’s UK operation reports a 3.7 per cent year-on-year increase in turnover, to £530 million. Michelin Tyre PLC says this improvement mainly results from a positive price/mix effect and reflects firm price discipline at a time of increasing raw materials prices, energy, labour, and other costs. Michelin further reports that its sales within the UK rose 4.5 per cent year-on-year.