Sales Up, Net Profit Down at Sumitomo Rubber - Tire Review Magazine

Sales Up, Net Profit Down at Sumitomo Rubber

Sumitomo Rubber Group has released interim results for the financial year ended Dec. 31, 2007.

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.)

You May Also Like

Yokohama Rubber reveals 2024 motorsports activity plan

Yokohama said participation in motorsports activities is crucial to its efforts to strengthen the Advan and GeoLandar brands.

Yokohama-Nitrocross

Yokohama Rubber revealed its motorsports activity plan for 2024. The company said participation in motorsports activities is crucial to its efforts to strengthen the Advan and GeoLandar brands and is again participating in a wide variety of motorsports events around the globe, from top-category to grassroots events.

Yokohama Rubber will again supply its Advan tires to many teams participating in motorsports events, such as Japan’s Super GT, the Nürburgring 24-Hour Race and the Pikes Peak International Hill Climb. Yokohama Rubber’s GeoLandar tires will be supplied to teams participating in off-road races in North America and Asia, including the Baja 1000, King of the Hammers, the Mint 400 and the Asia Cross Country Rally.

TIA’s Advanced Farm Tire Service training to take place in June

The training class for technicians in the agricultural and farm tire industries is set to take place June 11-14.

TIA_training-
Maxxis-sponsored athletes make podium, overall top 10 at Mint 400

Maxxis athletes Michael McFayden, Ethan Ebert and Trey Gibbs had podium finishes at the Mint 400 on Maxxis RAZR XT tires.

2024-mint400-maxxis
Sun Auto Tire reveals winner of Ford Bronco Sport giveaway

Lowell Anderson entered the giveaway at his local Sun Auto Tire & Service store while receiving a routine oil change.

Sun-Auto-Bronco-giveaway
Nokian Tyres holds bracket challenge on worst roads in North America

In 2023, the tiremaker’s audience voted Quebec as the province or state with the worst road conditions on the continent.

Pothole-Protection-from-Nokian-Tyres

Other Posts

Gallery: 2024 Big O Tires conference and convention

Highlights from this year’s Big O Tires conference and convention, featuring a general session, trade show and breakout sessions.

Gary-Skidmore
Bridgestone’s Firestone Liberia rubber farm receives ISCC Plus recognition

According to Bridgestone, its Liberia facility earned the ISCC Plus certification for its efforts in reducing environmental impacts.

Firestone_Liberia
Ascenso Tires adds new OEM sales manager

Douglas Duesing has more than ten years of experience working in agriculture, construction and mining OEMs.

Ascenso-Douglas-Duesing-1400
Nexen Tire Motorsports drivers earn top placements at King of the Hammers

Nexen Tire Motorsports partnered with drivers across a variety of racing series both on- and off-road, including King of the Hammers.

Nexen-KOH