Sumitomo Rubber ups '02 net profit forecast by 33%

Newswire

TOKYO, Aug 23 (Reuters) - Japan's third-largest tyremaker, Sumitomo Rubber Industries Ltd , on Friday revised up its group net profit forecast for 2002 by 33 percent on the back of strong exports to the United States and cost cuts. The revision helped send Sumitomo Rubber's shares up as much as 4.3 percent in early trading. The Kobe-based tyremaker now expects a group net profit of 8.0 billion yen ($66.8 million) for 2002, which would mark a sharp turnaround from a group net loss of 7.21 ...

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