UPDATE 1-Michelin H1 net profit falls, charge to hit '03

Newswire

(Adds details, background) PARIS, July 29 (Reuters) - Europe's biggest tyre maker Michelin posted a fall in first-half net profit due to restructuring costs on Tuesday but said operating profit improved thanks to stronger demand and higher prices. Michelin also said it would take a 300 million euro charge in the second half to cover its recent acquisition of Danish tyre distributor Viborg, which would "weigh in a significant manner on 2003 net income". Michelin said in a statement net ...

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