Pirelli forecast that the current ``positive trend'' in operating profit would be maintained for the rest of the year.

Third quarter results benefited from ``an acceleration in profitability and in economic growth compared to the first-half of the year,'' the company said.

Shares in Pirelli, which were around one percent down ahead of the results, reacted positively to the earnings. They gained nearly two percent before retreating to 3.65 euros, or 0.8 percent up, by 1545 GMT.

Pirelli said full-year results will include extraordinary items related to the sale of its optical components business.

Fiber optics maker Corning (NYSE:GLW - news) in September acquired a 90 percent stake in Optical Technologies from Pirelli for $3.6 billion. Pirelli had previously sold a 10 percent stake to computer networking equipment maker Cisco Systems (NasdaqNM:CSCO - news).

The market had been hoping Pirelli might give some indications with its results on what it intended to do with the funds it received from the sale of the Optical Technologies stake.