In spite of currency headwinds, Michelin’s profit numbers were higher than we had anticipated. This is primarily true for net earnings which benefited from the US income tax reform, i.e. the tax rate fell from 31.5% to just above 24%.
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Good H1 18 profit numbers
- Published:
24 Jul 2018 -
Author:
Hans-Peter Wodniok -
Pages:
2
In spite of currency headwinds, Michelin’s profit numbers were higher than we had anticipated. This is primarily true for net earnings which benefited from the US income tax reform, i.e. the tax rate fell from 31.5% to just above 24%.