Tokyo, Japan – Bridgestone said Monday its net profit last year soared 67 percent to $1.83 billion as it cemented a recovery from a year earlier when the quake-tsunami disrupted Japan’s manufacturers. Bridgestone said it earned 171.61 billion yen in the year to December as sales rose 1.0 percent to 3.04 trillion yen, with the bottom line partly boosted by higher tire prices. The company “focused on increasing the sales of highly competitive products… improving manufacturing productivity, enhancing technology and effectively utilizing our management resources”, it said in a statement.
Bridgestone also posted an upbeat forecast for the current year, saying it expects a 37 percent jump in net profit to 235 billion yen from 2012 on sales of 3.55 trillion yen, up 17 percent, thanks to the weakening yen.
Source: Rubber World
