Michelin: net sales up 10% in Q1.

(CercleFinance.com) - On Thursday evening, tyre manufacturer Michelin announced that its net sales had increased by 9.
9% in Q1, reaching 5.57 billion euros, in an "overall dynamic market environment".

The Group from Clermont also confirmed its forecasts for the financial year 2017: it expects volumes to grow "in line with global market trends," an operating profit on ordinary businesses that is higher than, or equal to, that of 2016, excluding the impact of FX factors and free cash generation of over 900 million euros.

The group said that the first half of the year is expected to focus most of the growth due to early purchases already recorded before future price increases, while the second half will benefit from improved profitability resulting from these increases.

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