net sales Archives - Page 5 of 8 - Tyrepress

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Toyo Reports Record 11% Sales Increase

Toyo Tire & Rubber Co. Ltd has reported record annual net sales of 300.2 billion yen (£1.412 billion, 2.75 billion euros), an 11.2 per cent increase on 2005. Operating income for the 2005 financial year also grew, totalling 13.094 billion yen (£61.627 million, 90.5 million euros) up 8.5 per cent year-on-year. However this total was short of the company’s target of 13.6 billion yen. During the period, Toyo’s net income fell 22.1 per cent to 5.378 billion (£25.313 million, 37.2 million euros). Toyo’s results presentation explain that the fall in its various income totals was largely impacted by the rise in raw material costs that is effecting all manufacturers.

16th June 2006/by Tyrepress Editors

Yokohama Launches Grand Design 100 Plan

(Akron/Tire Review) Yokohama Rubber Co. has launched a “grand plan” for the next dozen years leading up to its 100th anniversary, a three-phase management scheme that calls for 10 per cent in operating profits by 2018.

12th May 2006/by Tyrepress Editors

Titan’s Q1 Sales Up 34 Per Cent

US company Titan’s first quarter financial results show that the company achieved a 34 per cent increase in net sales. First quarter 2006 net sales were $182.6 million, compared to $136.1 million in first quarter 2005. Gross profit increased by 29 percent, or $7.0 million. First quarter 2006 gross profit was $31.1 million ($24.1 million Q1 2005).

28th April 2006/by Tyrepress Editors

Bandag Reports 12 per cent Increase in Net Sales for First Quarter

(Akron/Tire Review) Bandag Inc. reported $212.4 million in consolidated net sales for the first quarter of 2006, an increase of 12 per cent compared to consolidated net sales of $189.8 million in first quarter of 2005. Consolidated earnings from continuing operations were $3.8 million for the first quarter compared to 2005 first-quarter consolidated net earnings of $6.0 million.

20th April 2006/by Tyrepress Editors

Titan Sales Up Slightly in 2005

(Akron/Tire Review) Titan International Inc. saw its total sales drop in 2005 from $510.6 million to $470.1 million, but net profits fell only mildly – from $11.1 million in 2004 to $11 million last year. The company’s net sales in 2004, though, included sales of $49.4 million recorded by Titan Europe, which Titan said was sold in April 2004. Excluding the impact of Titan Europe, Titan saw its 2005 sales up 2 per cent versus 2004.

27th February 2006/by Tyrepress Editors

Trelleborg Group Shows Growth

The Trelleborg Industrial Group has published its financial results for 2005. Net sales were 24,170 million Swedish Kronor (SEK) or 2.57 billion euros, compared with the 2004 figures of SEK 22,912 m (2.43 bn euros). Net profits for the year, excluding restructuring costs, amounted to SEK 1,177 m (125.3 m euros); five per cent higher than the 2004 figure of SEK 1,122 m (119.4 m euros).

16th February 2006/by Tyrepress Editors

9-month Earnings Up at Yokohama

Yokohama Rubber Co., Ltd., has posted a 19.1 per cent increase in operating income, to 20.9 billion yen (£141.5 million), in the nine month period ended 31 December. Sales growth, cost-cutting measures, and the weakening of the yen against the dollar reportedly “more than offset increased raw-material costs.”

10th February 2006/by Tyrepress Editors

Apollo Tyres Net Profit up 25 per cent

A lower excise duty and a higher operating profit helped Apollo Tyres Ltd achieve a 25.48 per cent increase in earnings during the third quarter of 2005 (July-September) compared with same period last year. The company has declared a net profit of 180.6 million rupees (£2.26 million) for the quarter ended 30 September 2005 against 148.7 million rupees a year ago. Net sales grew marginally year-on-year from 6 billion rupees to 6.32 billion rupees in the reporting quarter, operating profit rose to 600 million rupees from 465.4 million.

2nd November 2005/by Tyrepress Editors

Titan Reports Lower Sales, Profits

(Akron/Tire Review) Titan International saw its third quarter sales and net profits drop year-over-year. Net sales for the period came in at $102.7 million, down from last year’s $116.5 million. Profits fell to $3.6 million from $9.9 million for 2004’s third quarter.

“Third quarter is always the toughest quarter due to Titan’s various shut downs, ‘and usually during the third quarter most OEMs adjust their inventory levels,” said Titan Chairman and CEO Morry Taylor.

31st October 2005/by Tyrepress Editors

Michelin Reports Increase in Overall 3Q Net Sales

(Akron/Tire Review) Groupe Michelin reported an increase of 4.5 per cent in net sales for the current third quarter, compared to the third quarter of 2004. In North America, the passenger and light truck tyre replacement markets experienced a 2.6 per cent growth year to date September 2005, compared to 2004, Michelin reported.

26th October 2005/by Tyrepress Editors

Upward Re-Revision of Forecasts

The Yokohama Rubber Co, Ltd has announced a 2.3 per cent increase over its initial forecast for the first half of 2006 (1 April 2005 to 30 September 2005). This means the company expects to record 200 billion yen in net sales, 3.5 billion yen increase in ordinary profit (a 133.3 per cent increase) and 13 billion yen in net income (up 8.3 per cent). According to Yokohama, these upward revisions reflect an increase in the volume of sales in the company’s overseas tyre business, profit improvements in North America, and the weaker-than-expected foreign exchange rate of yen.

25th October 2005/by Tyrepress Editors

Nokian 3Q Profits Down

Nokian Tyres’ third quarter profits will be lower than the previous year, the company has announced. However, a company statement on the subject did not give any further details of exactly how much profits had dropped. The company cited expenses resulting from the development of its Russian operations and from the establishment of new Vianor outlets and tyre hotels as reasons for its weakened profits. Looking on the bright side, Nokian pointed to a 6 per cent increase in invoicing and cumulative sales growth of 14 per cent. Net sales for 2005 are expected to grow by more than 10 per cent, the company added.

10th October 2005/by Tyrepress Editors

MRF’s Q3 Net Profit Dips

(India/Rubber Asia) MRF, the Indian tyre major, has reported a drop in net profit to 168.8 million rupees in the third quarter ending 30 June 2005, compared with 170.9 million rupees in the same quarter last year.

Net sales in the quarter, however, improved to 7,951.2 million against 6,562.2 million rupees in the same period last year. In the first nine months (October 2004 to June 2005), net profits dipped to 289.6 million rupees against 469 million in the year ago period, even as net sales rocketed to 21,850 million rupees as against 19,050 million in the same period last year.

9th September 2005/by Tyrepress Editors

Toyo Tires: First Quarter Results

Toyo Tire & Rubber Co. Ltd. announces its consolidated business results for the first quarter of FY2005 (from April 1 through June 30, 2005). Net sales were 523.9 million euros (an increase of 13.9% from the same period of the previous year); operating income was 23.3 million euros; ordinary income was 26.1 million euros; and net profit totaled 5.3 million euros.

12th August 2005/by Tyrepress Editors

Titan Reports 2Q Net Sales Increase

(Akron/Tire Review) Titan International Inc. has announced that net sales increased $13.5 million, or 11 per cent, in the second quarter of 2005, compared to the second quarter of last year.

Net sales for 2005’s second quarter were $134.7 million, Titan reported. Additionally, income from operations was $14.3 million, which was an improvement of $1.6 million or 13 per cent in the quarter, the company said. Adjusted net income in the quarter was $7.5 million, an increase of 33 per cent over the second quarter of 2004, and debt declined $52.3 million in the quarter, marking the company’s lowest debt level since 1993, according to Titan.

1st August 2005/by Tyrepress Editors