Michelin Posts Record Annual Profit

Tyre maker Michelin on Monday reported record results, citing the delayed positive impact of its 2022 price adjustments, but remained cautious for the new fiscal year citing an “uncertain” market environment.

“We are in a market context that remains complicated, a European situation that is not very bright, a China that is starting up again but not with growth as strong as it was a few years ago, and many other unknowns,” Chief Financial Officer Yves Chapot said in an interview with Reuters. …