Michelin Posts Rise In Profit, Lifts 2015 Operating Income Forecast

Compagnie Generale des Etablissments Michelin MGDDY lifted its operating income forecast for 2015 to EUR2.5 billion. Michelin's sales volumes climbed 6.7%. Its operating profit climbed 14.7% to EUR1.94 billion, versus EUR1.70 billion in 2011. Its revenue surged 15.8% to EUR20.72 billion from EUR17.89 billion. Michelin's net profit surged 39% to EUR1.46 billion from EUR1.05 billion, versus analysts' estimates of EUR1.27 billion. Michelin also proposed a dividend of EUR2.1 per share, up from EUR1.78, in the year-ago period. Michelin shares closed at $14.88 yesterday.