From Detroit Free Press
TOKYO — Tiremaker Bridgestone Corp. said its profit nearly doubled in 2003 as sales rose in Europe and payments related to a massive U.S. tire recall three years ago declined.
But the tire company forecast lower profits for this year, citing higher rubber prices and increasing marketing expenses in Japan in the face of weak demand.
Tokyo-based Bridgestone reported its group net profit climbed to 88.7 billion yen ($825 million) for the year, which ended Dec. 31, up from 45.3 billion yen ( approximately $415 million) the previous year.
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