Pirelli posts first half sales, income gains
Pirelli & Cie SpA recorded sales of 2.6 billion euros on net income of 2.6 million euros during the first half of 2008. Both were increases over the same period in 2007.
Pirelli's Tyre division posted 2.1 billion euros in sales during the first six months of the year, a 3% gain over the same period last year. Sales growth was due to "a focus on high value-added segments," say Pirelli officials.
"With respect to the results reached in the first half, it should be emphasized that (Pirelli's) performance was heavily influenced by external factors, starting with the international financial crisis, and by the relating repercussions on the economy and consumer demand, especially in Europe and the United States."
Looking ahead to the rest of 2008, Pirelli expects full-year results to be "in line" with 2007 numbers, "barring further deterioration of markets."