Hankook Asia bumps net profit 21.1%

Hankook Tire's Asian division has announced improved 2010 earnings year-on-year with its net profit reaching 424.8 billion won ($381 million) last year, up 21.1 per cent from 350.8 billion won a year earlier. The increase has come on the back of “brisk sales in both domestic and overseas markets”. Sales jumped 19.3 per cent to 3.35 trillion won, and operating profit rose 5.5 per cent to 367.5 billion won.

In a separate statement, the Asian division of Hankook said its consolidated sales, including figures from its overseas operations, reached 5.36 trillion won last year with operating profit coming to 585.8 billion won. “Hankook Tire is steadily improving its image as a premium brand through aggressive global marketing and continuous research and development efforts,” Hankook stated. The company said it is targeting 6.06 trillion won in global sales in 2011.

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