Source AP ©

Michelin increases its revenue in third quarter

Third-quarter revenue of Michelin went up 2.5 percent and its operating margin for the full year is likely to "approach" the 10.2 percent for the first six months.

Third-quarter revenue came in at 4.18 billion EUR(US$6.02 billion), up from €4.08 billion a year before. The result was slightly below an average estimate of 4.22 billion EUR(US$6.07 billion) by a panel of 14 analysts polled by the company.

Revenue for the first nine months of the year rose by 4.0 percent to 12.59 billion EUR(US$18.13 billion), from 12.10 billion EUR in the same 2006 period.

Michelin reaffirmed its earlier guidance that 2007 will see a "substantial improvement" over 2006.

The company said it expects a 60 million EUR(US$X86.4 million) negative impact in 2007 from rising raw material prices, but added that the latest round of price increases for some raw materials such as oil and natural rubber "will not impact the group's 2007 results."

Comments
The Royal Wedding and the Silly Season
Skripals fall under heavy British pressure
World leaders unite with Russia at St. Petersburg International Economic Forum
Blame MH17 on Russia: International investigation turns into demonic circus
World leaders unite with Russia at St. Petersburg International Economic Forum
Skripals fall under heavy British pressure
Russian spy Sergei Skripal recovers from chemical poisoning completely
The Netherlands and Australia officially accuse Russia of downing MH17 over Donbass
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
World leaders unite with Russia at St. Petersburg International Economic Forum
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Beautiful and terrifying: Russia shows video of Bulava ICBM underwater salvo launch
London will beg Moscow for forgiveness
London will beg Moscow for forgiveness
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus