Michelin a French tyre manufacturer has said that a sudden slump in annual profits for 2009 have fallen during global meltdown.
Net profit was 106m euros ($144m; £92m), compared with 360m euros for 2008. Sales fell 9.8% to 14.8bn euros.
The big company also said that they warned about the rising rubber prices and said it could not give a profit forecast for 2010 due to unknowing tyre market profits.
The shares of Michelin feel nearly 3% in Paris due to the slump.
