Haida Rubber & Plastic 2016 gross profit up 14.22%

Jiangyin Haida Rubber & Plastic Co., Ltd. has released the financial results for 2016.

Last year, the company’s business revenue totaled 856 million yuan, up 3.25%; and the gross profit reached 241 million yuan, up 14.22%.

At the same time, the company’s net profit rose 26.18% to 82.98 million yuan, and the basic earnings per share grew 20.82% to 0.2829 yuan.

According to the company, there are two elements boosted the company’s net profit growth last year:

First, the company maintained stable main business revenue, rail transport and auto business became the pillar sector, with the business revenue accounting for over 70% of the firm’s total.

Secondly, during the reporting period, the gross profit margin of the auto business increased sharply by 9.27% to 31.17%.