JAPAN: Bridgestone bumps profit estimates
Bridgestone has revised upward its group net profit estimate to JPY37bn yen from an earlier-projected JPY27bn for the first half of 2010.
The tyremaker also revised upward its group operating profit forecast to JPY63bn from JPY50bn projected on 7 May on estimated sales of JPY1.38 trillion, up from JPY1.36 trillion, thanks to increased tyre sales and higher tyre prices overseas.
For the January-June period of last year, Bridgestone logged a group net loss of JPY38.34bn and a group operating loss of JPY19.97bn on sales of JPY1.21 trillion.
For the whole business year 2010, the company now forecasts a group net profit of JPY77bn yen, up from JPY1.04bn in the previous year, and a group operating profit of JPY130bn, up from JPY75.71bn, on estimated sales of JPY2.90 trillion, up from JPY2.60 trillion.