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Yokohama reports record 1st half earnings
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Yokohama reports record 1st half earnings
tirebusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tirebusiness.com Daily Mail and Mail on Sunday newspapers.
Yokohama revises fiscal 2021 outlook on positive Q1 results
Yokohama revises fiscal 2021 outlook on positive Q1 results
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TOKYO Yokohama Rubber Co. Ltd. reported an eightfold increase in business profit for the quarter ended March 31 on record sales revenue of $1.41 billion.
Yokohama attributed its rebound from the COVID-19 pandemic-influenced fiscal 2020 first quarter to higher replacement tire market sales in most markets and record sales by its ATG off-highway tire segment.
The first-quarter results business income of $137 million on 15.9 percent higher sales of $1.41 billion prompted the company to revise upward its projections for the first half and the full fiscal year.
YRC now projects full-year sales revenue of $6 billion (at prevailing exchange rates), up 3.2 percent over the February forecast and 12 percent higher than the 2020 full-year figure, but still slightly shy of the fiscal 2019 sales. Business profit should come in at approximately $475 million, or ne
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TOKYO Yokohama Rubber Co. Ltd. reported an eightfold increase in business profit for the quarter ended March 31 on record sales revenue of $1.41 billion.
Yokohama attributed its rebound from the COVID-19 pandemic-influenced fiscal 2020 first quarter to higher replacement tire market sales in most markets and record sales by its ATG off-highway tire segment.
The first-quarter results business income of $137 million on 15.9% higher sales of $1.41 billion prompted the company to revise upward its projections for the first half and the full fiscal year.
YRC now projects full-year sales revenue of $6 billion (at prevailing exchange rates), up 3.2% over the February forecast and 12% higher than the 2020 full-year figure, but still slightly shy of the fiscal 2019 sales. Business profit should come in at approximately $475 million, or nearly 8% of sales.