Saturday, May 8, 2010

Bridgestone has profit of $191M

TOKYO — Tiremaker Bridgestone Corp. said Friday that it made a net profit of $191 million in the January-March quarter amid a gradual global recovery.
The result is a turnaround from a net loss of $381 million a year earlier. Bridgestone said sales in the fiscal first quarter rose 16.1 percent to $7.2 billion.

Bridgestone, which had a net profit of just $10.9 million last fiscal year, said that markets in Japan and the U.S. were gently recovering amid rising raw materials prices, but that conditions in Europe remained harsh.

The company forecast a net profit of $295 million for the half-year through June. It did not release a full-year forecast.


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