Yantai, China – Linglong Tyre reported a 21% jump in net profit to €67 million (524 million yuan) during the first half of 2018. Revenue rose by 8% to €923 million.
During the period Linglong produced 27 million tires and sold 26 million, respectively up 10% and 8% from H1 2017.
Dipping rubber price was a major contributor to the profit increase, said the company’s stock exchange filing.
China’s rubber commodity price as of last June dropped 15% year on year to roughly €1,330 per tonne; futures price…