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After market 01:17:05 pm | |||
| 35.99 EUR | -0.08% |
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36.38 | +1.07% |
| 07:15pm | News Highlights : Top Company News of the Day - Wednesday at 1 PM ET | DJ |
| 06:26pm | Michelin: sales down, forecasts unchanged | CF |
PARIS (Reuters) - Michelin first-half net profit rose 13 percent to 624 million euros (493 million pounds) despite declining sales, the French tyre maker said, as lower raw material costs helped offset weaker emerging-market currencies, price cuts and slowing demand for big tyres.
Operating income before non-recurring items was 1.159 billion euros, up from 1.153 billion and slightly below the 1.19 billion middle of an 11-strong range of analysts' forecasts. Sales fell to 9.673 billion euros from 10.159 a year earlier.
The company confirmed its 2014 financial targets, including the planned improvement of sales volumes by 3 percent, even though volumes only rose 1.9 percent in the first half.
(Reporting by Andrew Callus; Editing by James Regan)
| 1st Jan change | Capi. | |
|---|---|---|
| +10.87% | 27.55B | |
| +15.77% | 29.83B | |
| +43.40% | 7.02B | |
| +24.16% | 4.16B | |
| -16.86% | 3.42B | |
| -10.14% | 3.2B | |
| +24.12% | 3.19B | |
| +39.15% | 3.01B | |
| +22.42% | 2.85B | |
| -5.64% | 2.15B |
MICHELIN (CGDE) 
