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Bridgestone reports higher half-year profit YOY

Tire and rubber manufacturer Bridgestone Corp. posted profit attributable to owners of the company of ¥134.62 billion in the first half, up from ¥131.84 billion for the same period in 2017.

EPS stood at ¥178.76 in the six months that ended June 30, up from ¥169.53 in the prior-year period.

Net sales rose to ¥1.775 trillion for the half from ¥1.743 trillion. Net sales of tires came in at ¥1.474 trillion, up from ¥1.440 trillion, and net sales of diversified products increased to ¥311.6 billion from ¥310.7 billion.

Operating income decreased to ¥199.43 billion in the first half from ¥202.34 billion a year ago.

For fiscal 2018, Bridgestone said it expects profits of ¥305 billion and EPS of ¥405.73.

As of Aug. 10, US$1 was equivalent to ¥110.65