Doublestar’s growth slows down after 2016 sales jump

Qingdao, China – Doublestar posted a 65% rise in 2016 revenue to €655 million (4.9 billion yuan) in its annual report. Net profit jumped 56% to €13 million.

The momentum slowed down in Q1 2017 with a 1% year-on-year growth rate for both revenue and net profit. The company declined to comment on the flat revenue – at €145 million – meanwhile rising costs for natural rubber and other raw materials have led to a lower margin for several Chinese tire makers.

Last year Doublestar’s domestic sales…

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