Arab Today, arab today michelin sets high growth targets
Last Updated : GMT 06:07:40
Arab Today, arab today
Arab Today, arab today

Michelin sets high growth targets

Arab Today, arab today

Arab Today, arab today Michelin sets high growth targets

Paris - AFP

French tyre maker Michelin set ambitious growth targets for the years ahead after posting Friday a 39-percent increase in next profit in 2011 to 1.46 billion euros ($1.93 billion) Operating profit rose by 14.7 percent to 1.9 billion euros, or 9.4 percent of net sales, and Michelin said it aimed to boost that to 2.5 billion in 2015. Sales rose 15.8 percent to 20.7 billion euros. \"In deploying its strategy, Michelin is capitalising on a number of unique competitive advantages, including forefront positions both in the premium tyre segment and in all of its specialty businesses, as well a balanced global footprint that will be further strengthened in 2012 with the start-up of the new plants in Brazil and China,\" the company said in a statement. \"As a result, Michelin confirms its ambition to drive at least 25 percent growth and generate positive free cash flow over the 2011-2015 period, and has raised its 2015 operating income target to 2.5 billion,\" it added. The net profit was above analyst expectations of 1.27 billion euros on average, and Michelin\'s share price rose but was dragged down by 0.47 percent to 55.50 euros in midday trading on a French market down 0.70 percent overall. \"Michelin managed to nearly maintain its operating margins at a decent level,\" despite the difficult economic conditions, said Dominique Daridan, an analyst at Aurel BGC stockbrokers. He noted that Michelin\'s performance suffered at the end of the year as the global economy slowed. Jean-Dominique Senard, one of the company\'s co-chief executives, noted on BFM TV that 2011 was \"a bit complicated\" due to the \"headwinds of increases in raw materials prices\" that resulted in a 1.8-billion-euro hit. However Michelin said in its earnings statement that higher raw materials costs have now been \"effectively offset\". It said a programme to improve the competitiveness of its manufacturing operations aimed to drive down costs by 1.0 billion euros over five years. Senard said the company would continue to push to keep out in front in the premium tyre segment. \"There\'s no choice, that\'s where the growth is,\" he said. With factories in Brazil and China due to come on line this year, the company is also banking on emerging markets for growth, while it expects Europe to be \"less buoyant\". Senart said the Michelin aims to increase its global manufacturing capacity by 50 percent within 10 years. The company proposed a dividend of 2.10 euros per share.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today michelin sets high growth targets Arab Today, arab today michelin sets high growth targets

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today michelin sets high growth targets Arab Today, arab today michelin sets high growth targets

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday