Michelin Q1 sales up 10.2 pct, ups rubber impact

Newswire

PARIS, April 25 (Reuters) - The world's biggest tyre group, Michelin of France, reported a 10.2 percent rise in first quarter sales on Tuesday, beating analysts' forecasts, as it increased prices to offset higher rubber costs. The group based in Clermont-Ferrand, central France, said it had increased the expected impact of the spike in raw materials for 2006 to 540 million euros ($670.8 million) from 370 million previously but maintained a forecast of a higher 2006 operating profit and an ...

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