Sumitomo Rubber expects big first half gains

Aug. 23, 2002

Sumitomo Rubber Industries Ltd. (SRI) expects its first-half profits to be 3.1 billion yen, according to wire reports.

Earlier it had projected a loss of 1 billion yen.

Reports attribute the gain to export sales increases.

SRI, which is partially owned by Goodyear Tire & Rubber Co., expects to see a group net profit of 8 billion yen for the full year; it lost 7.2 billion yen in 2001.