Bumpy Road For Bridgestone As Profits Drop

Profit drops 68 percent for the first half of 2006.

Bridgestone reported Wednesday that although sales are up 13 percent, the company still had a 68 percent drop in net income. Profit for the first half of 2006 was $285 million, compared to $886.8 million for the same period last year.

The rising cost of crude and other raw materials and the closures of two tire plants in the Americas were blamed for the drop.

The first half of 2005 was also bolstered by a Japanese government reimbursement involving pensions, which was absent this year.

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