MILAN, Italy (July 27)—Pirelli S.p.A. reported measurable gains in sales and earnings for the first six months of fiscal 2001, although the bulk of the gains can be chalked up to first time consolidation of acquisitions in Pirelli's cable business. Pirelli said its tire business performed on par with the first six months of 2000, despite "unfavorable market conditions." Pirelli reported operating earnings before interest and taxes of $218 million, a 14-percent increase over the 2000 period, and sales of $3.54 billion, a 9.7-percent rise. For the remainder of 2001, Pirelli said it expects a soft third quarter before key markets rebound in the fourth quarter. Pirelli will publish detailed figures in early September.
Pirelli earnings, sales rise in first half
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