results Archives - Page 13 of 52 - Tyrepress

Posts

Yokohama Raises Half-Year Projections

Projections made by Yokohama Rubber on July 30 for its consolidated net sales and earnings in the first half of the current financial year have been raised to reflect accelerated progress in cost cutting and an increased sales forecast. For the six-months between April 1 and September 30, 2010, the company now anticipates that the 3.9 billion yen (£29.2 million) net loss experienced in the first half of the previous financial year will “shrink to approximately zero.” Company management expects operating income to be 6.3 billion yen (£47.2 million), as opposed to an operating loss of 4 billion yen a year earlier.

28th September 2010/by Tyrepress Editors

‘Rolling Compensation’ Offered by New Pro-Align Sensor

A new addition to the range of conventional sensors offered by Pro-Align is intended to offer garages even quicker wheel alignment measurements. As Pro-Align explains, unlike many conventional sensors, its new DSP700 series sensors allow users to carry out ‘rolling compensation,’ making the measurement process much quicker and easier than the traditional jacking compensation method. The wheel alignment specialist estimates that measurement times can be reduced by as much as 60 per cent.

7th September 2010/by Tyrepress Editors

OE Truck Tyre Sales a July European Highpoint

European sales of passenger car and light truck tyres during July were well below the market growth previously seen in the year to date. According to data released by Michelin and Pirelli, the original equipment market experienced either slight year-on-year growth or a small decline – Michelin reports a 1.1 per cent year-on-year growth for this sector in July, while Pirelli reports a two per cent market shrinkage during the month. These modest results contrast with year to date original equipment market growth of at least 20 per cent; Michelin reports this growth to be slightly higher, at 21.4 per cent. Year-on-year growth in the replacement passenger car and light commercial vehicle tyre market stood at around five per cent during July (5.1 per cent according to Michelin’s figures), again lower than Michelin and Pirelli’s respective year to date growth figures of 9.1 per cent and 10 per cent respectively.

7th September 2010/by Tyrepress Editors

Which? Presents Continental with Best Tyre Brand Accolade

Outstanding results in Which? magazine’s tyre tests have given Continental the title of best tyre brand. The leading consumer publication picked out Continental’s “excellent” dry grip and “very good” wet grip as the brand’s major positive characteristics. Brand manager, Tracey Hyem said; “To come out as the top tyre brand tested really shows the all round ability and quality of our products and we are incredibly pleased with the result. Which? magazine considers its ‘Best Buys’ very carefully, putting the tyres through stringent tests, so this really is an excellent result for Continental.”

2nd September 2010/by Tyrepress Editors

HiQ Network Grows with Addition of 11th Broadway Outlet

One of the largest franchisees in the HiQ network, Broadway Tyres, has acquired its 11th centre. Broadway owns a number of fast fit outlets in and around London, and has added HiQ Grays to its portfolio after acquiring the centre from P & R Tyres.

23rd August 2010/by Tyrepress Editors

Sumitomo Sales Surpass £2 Billion in H1, 2010

Half year results for Sumitomo Rubber Industries show net sales increasing 22.2 per cent to 280,797 million yen (£2.1 billion). During this six month period to June 30, 2010 operating income amounted to 20,342 million yen (£151.4 million), representing a margin of 7.2 per cent. Net income was 10,438 million yen (£78.1 million) as opposed to a 6,892 million yen a year earlier and represented a margin of 3.7 per cent.

13th August 2010/by Tyrepress Editors

Superior Delays Q2 Figures Release

Superior Industries International states that the release of its second quarter 2010 financial results, scheduled to be made public on August 11, has been postponed due, in part, to the recent implementation of a new Enterprise Resource Planning (ERP) system. The aluminium wheel manufacturer says it is “working diligently” to finalise its second quarter results and will provide new dates and times for the earnings release and earnings conference call at a later date.

13th August 2010/by Tyrepress Editors

Varta Launches Aftermarket Start-Stop Battery Range

From 2012, the EU requires maximum vehicle CO2 emissions levels to be reduced to 130 g/km across Europe. Start-stop technology, also known as micro hybrid technology, is a key part of vehicle manufacturers’ efforts to meet this target. Interest in start-stop has already skyrocketed, and forecasts indicate that 70 per cent of all vehicles produced in Europe by 2015 will feature this technology. Under its Varta brand, Johnson Controls Power Solutions EMEA has developed AGM and EFB batteries it says can meet the demands of this technology, and its Varta Start-Stop Plus and Start-Stop batteries are now ready to be launched to the aftermarket.

9th August 2010/by Tyrepress Editors

EPA Scrap Tyre Proposal – 20 Years of US Environmental Progress up in Smoke?

Responding to a US Environmental Protection Agency (EPA) proposal to declare whole scrap tyres as a solid waste, the Rubber Manufacturers Association (RMA) has declared the potential change in policy a measure that would “significantly harm the existing infrastructure that manages scrap tyres.” The association also believes two decades of environmental cleanup success is at risk of being reversed as a result.

6th August 2010/by Tyrepress Editors

Goodyear Launches EV-4R Harbour Tyre

Cost per mile and reliability are of utmost importance to the transport industry, and this particularly applies to operators of harbour based container and freight terminals. The duties carried out by straddle carriers at these sites are often strenuous, and the tyres used there need to provide maximum load capacity and high wear resistance. With its new EV-4R for straddle carriers, Goodyear claims to have developed a radial tyre that satisfies both criteria.

6th August 2010/by Tyrepress Editors

Kumho Tires Enjoying 2nd Quarter in the Black

Following a less than optimal 2009 Kumho Tires has achieved positive results for the second consecutive quarter of this year. The South Korean manufacturer’s revenue increased 34 per cent year-on-year during the second quarter of 2010 to KRW 628.1 billion (£336.1 million), with operating profit reaching KRW 66.9 billion (£35.8 million) and an operating profit margin of 10.7 per cent. Net profit for the three months to June 30 was KRW 53.9 billion (£28.8 million), contrasting with a loss of KRW 113.2 billion a year earlier.

4th August 2010/by Tyrepress Editors

Footfall Up Alongside Gross Profit at HiQ

HiQ has reported year-on-year increases in turnover and gross profit in its half-year report. Turnover has risen by more than 7 per cent, while gross profit increased by “a double digit figure”, the network reported. In addition, HiQ’s 145 centres welcomed more than 8 per cent additional customers. The fast fit network said its partnership-led franchise structure is a major factor behind the increases. The number of HiQ sites has increased by six since the end of April, suggesting this has had a strong role in the continued upward trend.

3rd August 2010/by Tyrepress Editors

Kings Road Tyres Believes Brityrex “Will Come Back Strongly” in 2010

Having taken the opportunity to promote its private Kingstone brand in Europe at Reifen 2010, wholesaler Kings Road Tyres goes into Brityrex looking to build relationships and communicate information effectively in the face-to-face format offered by the exhibition, in addition to continuing the stride made this year with Kingstone.

2nd August 2010/by Tyrepress Editors

Pirelli Second Quarter 20% Ahead of Analysts’ Consensus

Financial analysts have described Pirelli Spa’s second quarter 2010 results as a “symbolic quarter” after the group, led by its tyre sales, posted results roughly 20 per cent ahead of analysts expectations and unexpectedly increased its 2010 earnings targets. The group increased its sales targets to 4.8 – 4.9 billion euros (from 4.6-4.7 billion) and is targeting EBIT margins 7 per cent versus 6.5 per cent previously.

30th July 2010/by Tyrepress Editors

Conti “Well on its Way” with H1 Results

In the words of Continental AG’s Executive Board chairman Dr. Elmar Degenhart, the German tyre and automotive systems manufacturer “is well on its way to emerging from the crisis stronger than before.” In particular, the company’s EBIT has developed positively and the EBIT margin exceeded pre-crisis levels during the first half of 2010. “This is also however obvious from our balance sheet, which we have improved substantially since the beginning of the year with the capital increase and the equally successful placement of an initial bond, as announced,” Degenhart added. “With this basis, we are tackling the upcoming tasks brimming with confidence.”

29th July 2010/by Tyrepress Editors