Sailun expects Q1 upturn after profit-drop in 2017

Qingdao, China – Sailun has pegged its 2017 annual net profit at €40 million (316 million yuan), representing a 13% decline from 2016.

Net profit excluding non-recurring elements dropped 18% to €38 million, the company announced in February. Revenue for the year, however, jumped 22% to €1.7 billion.

“Prices of the company’s main raw materials rose significantly over the first half of 2017, whereas tire price was lagging behind, rising at a slower rate,” said the announcement.

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