Boulder City, Nevada – Amerityre, whose portfolio includes polyurethane tyres for farm, leisure and warehouse use, generated sales of $28m in the first half of 2022. This is up 26.3% on the same period last year.
Amerityre rushes to maintain margins in H1
Gross profit across the business was up 10.8% to $714.8m in the first half of 2022. The company's financial year runs from September.
The company said: '[We] experienced higher than expected demand for our polyurethane foam tyres in the recent quarter. Sales or the second quarter of 2022 were up 32.3%. We continue to see the strong sales trends that we saw during 2021 as our customers experience strong sales and domestically produced tyres are attractive to new customers.'
Sales of golf cart tyres were also strong, Amerityre added.
The company is increasing prices to maintain profitability in the face of rising input costs. 'We expect raw material availability to be an issues in the upcoming quarters due to ongoing supply chain issues,' it said.
The company said it has a good backlog of business.