Sumitomo Rubber Industries (SRI) reported drops in operating and net income during the first half of 2015, stating that price/mix and foreign exchange offset gains in lower materials costs.
Operating income decreased 16.6% to $243.4 millon, while net earnings were down 8.4% to $166.4 million. Total sales were up 2.7% to $3.24 billion.
The company’s tire business saw an operating income drop of 12.8% to $229 million on 0.9% higher sales of $2.76 billion.
SRI reported its sales in North America jumped 30.3%, to $476 million.