Tyre maker Bridgestone said on Thursday its net profit jumped 61.3% in the first half of 2007, buoyed by solid sales, a lower yen and the absence of losses from plant closures.
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The group reported net profit of 52.9bn yen ($US445m) for the six months to June as it bounced back from losses a year earlier resulting from tyre plant closures in the Americas, Reuters said.
Operating profit rose 21.3% to 102.0bn yen as revenue grew 13.4% to 1.62 trillion yen, boosted by the weaker yen which was positive for export earnings, the company said.
According to Reuters, Bridgestone upgraded its full-year outlook again slightly thanks to the weaker yen, predicting a recovery after a sharp fall in earnings in 2006 caused by rising material costs and restructuring charges.
The Japanese group now expects net profit will grow 28% to 109bn yen for the full year. Operating profit is forecast to rise 13% to 215bn yen as revenue grows 13% to 3.37 trillion yen, the report added.
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