Michelin profit rises 37 pct, helped by pricing

Newswire

PARIS, July 27 (Reuters) - French tyre maker Michelin said first-half profit rose 37 percent as price increases helped to offset the slump in Europe's auto market and broader economy. Net income advanced to 915 million euros ($1.13 billion) from 667 million in the year-earlier period, the company said in a statement on Friday. Revenue rose 5.9 percent to 10.71 billion euros even as volumes fell. ($1 = 0.8130 euros) (Reporting by Christian Plumb; Editing by James Regan) ...

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