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Yokohama Rubber First-Half Sales Hit Record $4.03B as Tire Profit Surges 57%
['David Sickels']
Tire Review Magazine
Operating profit doubled to $692.2 million, while profit attributable to Yokohama Rubber shareholders more than doubled to $457.9 million.
Tires excluding off-highway products generated a 36.9% profit increase, and off-highway tire profit increased 36.4%.
Off-Highway Tire Profit Rises 83%Off-highway tire revenue increased 14.8% to $1.35 billion, while business profit rose 82.5% to $164.0 million.
Yokohama said OE agricultural tire sales increased as it strengthened relationships with equipment manufacturers.
They help explain why operating profit increased 100%, faster than the 54.3% growth in business profit.