The group as a whole generated sales of 567,306 million yen (£2.68 billion) during 2007, up from 534,086 million yen (£2.52 billion) the previous year. The bulk of these sales came from the company’s SRI Tire Trading division, which recorded 474,282 million yen (£2,24 billion) in sales last year, an increase from 430,630 million yen (£2.04 billion) in 2006.

Operating income for the group and the tyre division both also developed positively in 2006. A total operating income of 45,126 million yen (£213.5 million) was reported, as opposed to 36,789 million yen (£174 million) a year earlier. Operating income from tyres was 35,892 million yen (£169.8 million) in 2007; in 2006 this figure was 26,381 million yen (£124.8 million).

Despite this upward trend, net income for the group decreased. In 2007 total net income was reported to be 19,498 million yen (£92.2 million), 29.3% less than the previous year’s 27,585 million yen (£130.5 million). The company has not commented on net sales for the tyre division, however it reports that group liabilities, both current and long term, increased by just under 10% during the 2007 financial year. Capital expenditure also rose, particularly in the tyre division, from 44,937 million yen (£212.6 million) in 2006 to 51,577 million yen  (£244 million).

European sales were 14.9% down during the last year, to 26,790 million yen (£126.7 million). These sales account for just 4.7% of Sumitomo’s global sales – the previous year Europe generated 5.9% of sales. (Tyres & Accessories/Staffordshire, U.K.)