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Chinese tire maker Double Coin reports 47.07% net increase last year
Shanghai. March 13 (Gasgoo.com) –Shanghai-listed Chinese tire maker Double Coin Holdings LTD reported 16.87 million yuan ($2.37 million) net profit, up 47.07 percent from one year earlier and the company’s earning per share is 0.19 yuan ($0.0267), according to the company’s 2007 report released on Tuesday.
The company’s operation revenue last year reached 773.07 million yuan ($108.88 million), the report said.
During the reporting period, the tire maker sold a total of 5.93 million tires, up 5.12 percent from one year earlier. These tires include 4.11 million all steel tires, up 21.5 percent from one year earlier and 1.81 million diagonal tires, down 19.5 percent from one year earlier.
The adjustment of product lineup and the launch of new project have contributed to the output growth of heavy-duty radial tires; improved product quality and proactive marketing strategy has helped promote sales growth last year, according to the company report.
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