KOBE, Japan (Aug. 17)—Sumitomo Rubber Industries Ltd.'s operating earnings grew 18.7 percent in the first half of 2005 while sales, led the firm's tire division, improved 6.3 percent.
Sales from outside Japan increased 18.5 percent during the period, including a 26.1-percent rise in North America. Sumitomo didn't comment on the results.
Sumitomo's operating income for the six months rose to $186.4 million, while sales grew to $2.09 billion. Net earnings nearly tripled to $108.5 million.
Sumitomo's Tire Business Staff Reported 44.8-percent higher operating income of $132.9 million on 9.8-percent higher sales of $1.58 billion.
The firm's sales in North America increased to $252.2 million. North America now represents 12.1 percent of the firm's global sales.