1Q Los for Kumho to be Bigger than Planned

Kumho Tire Co. told analysts earlier this week that its anticipated first quarter loss will be larger than expected. For the first quarter of 2008, Kumho lost 36 billion won (US$36.2 million), compared with a loss of 14.3 billion won for the same quarter last year. The tyremaker’s year-over-year operating profit, though, was up 30 per cent and sales rose 15.6 per cent. (Tire Review/Akron)