Though the formal tyre services sector is under threat from black market traders and those who sell second hand tyres, National Tyre Services says it is well placed to meet any challenges.
And it has every reason to be optimistic. It more than trebled its net profit last year. The profit shot up from $257.9 million in 2001 to $991 million last year.
Sales rose 180 percent from $2.1 billion to $5.8 billion. Operating profit increased from $398.5 million to $1.5 billion.
The company says tyre unit sales increased by 20 percent. There were gains in passenger and light truck and truck tyres but sales to the agricultural and earthmoving sectors declined.
Retreads increased by 40 percent.