Pirelli has posted half year net profit up 39.6% to EUR222m (US$273m), while revenues increased 8.3% to EUR3.02bn.
The first half of 2012 saw growth in key economic and profit indicators compared with the same period in 2011, despite the slowdown of the macro-economic scenario which worsened in the second quarter.
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The strategic focus on the premium segment, the growth of which was confirmed and the reinforcement of production and commercial presence in rapidly growing economies offset the negative impact on sales volumes said Pirelli, resulting in a further increase in profitability.
As a part of this strategy, Pirelli signed an agreement with PT Astra Otoparts for the construction in Indonesia of a conventional motorcycle tyre factory, launched production in Mexico, where in the second quarter the Silao plant was inaugurated to serve the entire Nafta area and in the second quarter, acquired retail distribution chains in Brazil and Sweden.
