PARIS (dpa-AFX) - French tire maker Michelin Cie Des Estb (MGDDY.PK, MGDDF.PK) Thursday reported net sales for the third quarter of 5.335 billion euros, up 3% from 5.179 billion euros reported last year.
Passenger car, light truck tires and related distribution segment revenues inched up 0.5 percent to 2.979 billion euros, while truck tires segment grew 2 percent to 1.564 billion euros. Specialty business revenues rose 16 percent to 792 million.
For the full year, Michelin confirmed its targets of volume growth in line with global market trends, operating income from recurring activities exceeding the 2016 figure excluding the currency effect, and structural free cash flow of more than 900 million euros.
Revenues for the nine-month period rose 6% to 16.394 billion euros.
Copyright RTT News/dpa-AFX