Sumitomo Results Show Higher Sales, Lower Profits
Sumitomo Rubber Industries has released its consolidated interim results for the period between January 1 and June 30, 2008, and these figures show a pattern echoed throughout the tyre industry at present – increased sales but reduced profits. Net sales of 284,491 million yen (£1.38 billion) were 12.1 per cent up on those achieved in the first six months of 2007, during which time sales of 253,858 million yen (£1.24 billion) were recorded.