China Daily Global Edition (USA)
Michelin first-half profit up 11 percent
Michelin & Cie’s first-half operating profit rose 11 percent as gains from a cost-cutting plan kicked in and car sales growth accelerated in China. Operating profit before one-time gains or costs increased to 1.41 billion euros ($1.55 billion) from 1.26 billion euros a year earlier, the company said in a statement on Tuesday.