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Pirelli Sales, Earnings Up in 2005

(Akron/Tire Review) Tires and telecommunication company Pirelli SpA reported 2005 net profit increased some 30% from the previous year, even as the company battled rising raw material costs.

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Net profit reached 327 million euros for the year, up from 2004’s 251 million euros.

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Full-year 2005 sales were 4.55 billion euros, Pirelli said, up 14.6% from 2004. Pirelli’s tire group posted an operating profit of 329 million euros, up 19.6% from 2004, and group net profit reached 198 million euros.

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