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Sumitomo Rubber Q1 profits soars on high sales

Lower natural rubber prices and increased sales helped Sumitomo Rubber Industries to report a 21% increase in net income to $101.4 million for the quarter ended March. The company sales jumped 16.4% to 1.76 billion from the same quarter of the previous year.
Sumitomo’s tyre division’s operating income increased 23.5% to $154.7 million on an increase of 16.4% to %1.54 billion in sales in the quarter ended March.

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