MILAN, Italy (July 30) — Pirelli Tyre S.p.A. reported a 6-percent improvement in operating income in the first half of 2007 on 6.6-percent higher sales.
Pirelli Tyre reported sales of $2.96 billion and operating earnings of $283.3 million for the six months, as both the consumer and industrial tire businesses contributed growth. Revenue growth was a combination of higher volume and improved product mix, Pirelli said, despite the negative effect of currency exchange rate changes.
Pirelli did not disclose its regional sales performances.
On a consolidated basis, parent company Pirelli & C. S.p.A. reported a slight drop in operating income to $294.3 million on 30.3-percent higher sales of $4.38 billion.