Italian tire manufacturer Pirelli Group (PirelliGroup) has announced the first quarter of 2011, the company's revenue and net profit both rose sharply from a year earlier.

    It is reported that revenue in the first quarter of last year's 1.135 billion euros to 14 billion euros, up 23.4% year on year. Season Pirelli tire business revenue from the 1.11 billion euros last year rose 24.7% year on year to 1.385 billion euros. This figure Zhangaigongsi 98.8% of total revenue.

    The company said first-quarter consolidated net profit attributable to the Group's 39.2 million euros last year rose to 82.8 million euros. Pirelli tire business quarter net profit of 88.5 million euros, compared with 50.1 million euros last year rose 76.6%.

    Meanwhile, the company also raised its 2011 revenue target from the previous "55 million euros (8.15 billion U.S. dollars) or more" to "more than 5.85 billion euros."

    Pirelli said that the company raise prices to offset rising raw material impact, beyond the previous expectations of its plan to develop the industry. After consideration, the company raised its revenue target this year.