Sumitomo Rubber back in black with record profit

Newswire

TOKYO, Feb 24 (Reuters) - Japan's third-largest tyre maker, Sumitomo Rubber Industries Ltd , said on Monday it returned to the black in 2002 with a record group profit on brisk exports to the United States and Asia, a weak yen, and cost cuts. The Kobe-based tyre maker, 10 percent owned by Goodyear Tire & Rubber Co , posted a group net profit of 8.24 billion yen ($69.4 million), beating its August forecast and defying expectations that losses on its Goodyear shareholdings would prevent ...

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