February 26, 2018 / 12:32 PM / 3 months ago

Pirelli sees operating profit rising 8 pct in 2018

MILAN, Feb 26 (Reuters) - Italy’s Pirelli forecast on Monday that adjusted operating profit would rise at least 8 percent in 2018 as it pushes to increase the share of its sales from high-margin premium tyres to 60 percent.

The tyremaker reported a 9.7 percent rise in 2017 adjusted operating profit before start-up costs to 926.6 million euros.

The results were a shade under Pirelli’s own forecast for adjusted operating profit before non-recurring and restructuring charges and start-up costs of around 930 million euros ($1.15 billion), compared with 844 million euros the year earlier.

Shares were down 0.6 percent at 1227 GMT.

$1 = 0.8119 euros Reporting by Isla Binnie

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