MILAN, Italy (Aug. 13, 2004) — Pirelli S.p.A. reported 33-percent better operating income in the first half of 2004 on 8.3-percent better sales, as the tire division provided the bulk of the earnings.
Operating profit from tires grew 19.4 percent to $189 million, while tire unit sales improved 9 percent to $2 billion.
The results Pirelli published were unaudited and, therefore, the firm did not offer much in the way of explanation. Further details will be released later.