Rosava reports 15.5% increase in sales

ERJ staff report (LMH)

Kiev, Ukraine - Ukrainian tyre maker Rosava has said tyre sales in the first half of 2011 have increased by 15.5 percent from the same period in 2010, reaching almost 1.8 million units.

Earnings from sales for the six months ended 30 June 2011 were 684 million UAH (Euro 59 million), Rosava said in a 1 Aug statement on its website. This was a 64 percent improvement year-on-year.

The company said it achieved a 17.5-percent increase in sales of passenger car tyres, selling over 1.5 million in the first half of 2011 compared to 1.3 million units in 2010. Rosava said this was partly due to broadening its range. The company report new demand in the market and 32-percent growth in sales of higher-quality tires segment.

Rosava said that sales of agricultural tyres increased by 16.6 percent in the first half of 2011, due to the modernisation of the production of large tyres, plus improved consumer characteristics.

The company recently reported that the Security Service of Ukraine had taken over its plant for unknown reasons.

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Press release from Rosava (in Russian)

Press release from Rosava (auto-translated to English)