COMPAGNIE GENERALE D (MGDDY.PK)
Michelin reports strong 2011 profit
Associated Press – Fri, Feb 10, 2012 8:08 AM EST
French tire maker Michelin reports 39 percent growth in 2011 profit despite volume slowdown
finance.yahoo.com 
From the article:"...Tire maker Michelin says earnings rose 39 percent last year as a strong first half helped offset a slowdown in the last half of the year that caused sales growth to miss the company's targets.
Michelin, based in Clermont-Ferrand in central France, reported net profit of euro1.46 billion ($1.94 billion) for 2011, up from euro1.05 billion in 2010. Sales volumes grew 6.7 percent last year, slower than the 9.3 percent rate they'd set through the first nine months of the year, as European economies slowed at the end of the year. The company forecast Friday that its operating income would rise to euro2.5 billion ($3.3 billion) by 2015, from euro1.9 billion last year, with the goal of cutting costs by euro1 billion over five years...".
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Good timing on your recent sale. Seems like the company is on track. I plan to hold my small amount of shares until I receive the dividend sometime in May.
EKS |
