Linglong estimates annual revenue jump
Yantai, China – Linglong Tyre has issued estimates showing €1.8 billion (13.9 billion yuan) revenue in 2017, representing a 32% jump from 2016.
Last year the company’s tire sales volume grew significantly, said Linglong’s filing in January on the Shanghai Stock Exchange.
“Market demand warmed up and the company has been improving its product quality and delivery capability,” said the filing.
Operating profit over the same period rose by 4% year on year to €143 million. Net profit increased by 2% to €133 million.
Slower growth for profit is caused by rising price of raw materials such as additives, carbon black and tire framework, said the filing.
This article is only available to subscribers - subscribe today
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
- Every issue of European Rubber Journal (6 issues) including Special Reports & Maps.
- Unlimited access to ERJ articles online
- Daily email newsletter – the latest news direct to your inbox
- Access to the ERJ online archive