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DRC - Q2 improvement points to H2 earnings recovery - Earnings Flash

DRC’s H1 2018 revenue and NPAT dropped 5.8% and 27.8%, respectively, vs H1 2017. This was mainly driven by a plunge in sales of light truck bias (LTB) tires in Q1 2017, which was partially offset by high growth in sales across other product lines in Q2. As DRC has secured light truck radial (LTR) tire sales contracts with local automobile manufacturers who need to meet localization rate requirements, the company expects sales and profit to pick up in Q3 2018, guiding for Q3 2018G revenue