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Provider: Reuters Investment Profile
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Michelin Group Reaffirms FY 2011 Guidance


Wednesday, 26 Oct 2011 11:47am EDT 

Michelin Group announced that it has reaffirmed its objectives for the fiscal year 2011: approximately 8% growth in unit sales, an increase in operating income and temporarily negative free cash flow. For fiscal year 2010, the Company reported operating profit of EUR 1,695 million. According to I/B/E/S Estimates analysts on average are expecting the Company to report fiscal year 2011 operating profit of EUR 1,902.35 million. 

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