Doublestar annual profit down, mulls overseas plant

Qingdao, China – Doublestar posted €4 million (28 million yuan) net profit in 2018, down by 75% from 2017. Revenue dropped 6% to €544 million.

The company had €59 million net loss less non-recurring items in 2018, according to its annual report released in April.

Tire sales volume jumped 14% to 9.5 million unit in 2018, meanwhile the business’ gross profit margin stood at 8.4% last year, down from 20% in 2017.

Doublestar linked the decline in profit partly to market headwinds such as trade conflicts and China’s…

To read more,please login or register below.

Register
This is the first step to more free
content, user offers, subscriptions
and more.
Login
Log in here using the Email Address
and Password you signed up with