Michelin Posts Rise In Profit, Lifts 2015 Operating Income Forecast

Compagnie Generale des Etablissments Michelin (OTC:

) lifted its operating income forecast for 2015 to EUR2.5 billion. Michelin's sales volumes climbed 6.7%. Its operating profit climbed 14.7% to EUR1.94 billion, versus EUR1.70 billion in 2011. Its revenue surged 15.8% to EUR20.72 billion from EUR17.89 billion. Michelin's net profit surged 39% to EUR1.46 billion from EUR1.05 billion, versus analysts' estimates of EUR1.27 billion. Michelin also proposed a dividend of EUR2.1 per share, up from EUR1.78, in the year-ago period. Michelin shares closed at $14.88 yesterday.