Arab Today, arab today michelin sets high growth targets
Last Updated : GMT 01:25:55
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.  

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 Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 01:04 2017 Tuesday ,28 February

Nokia 3310 is back — and so is 'Snake'

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
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