Kumho 2013 performance lags behind prior year

Kumho Tire has informed the Korea Stock Exchange that its 2013 sales, operating income and net profit were lower than the comparative figures for 2012. According to the company’s consolidated financial statements, total sales last year amounted to KRW 3,698.5 billion (£2.1 billion), a year-on-year reduction of 9.1 per cent. Operating income, at KRW 348.2 billion (£197.8 million), was down 7.2 per cent on the 2012 result. Net income for 2013 was KRW 117.4 billion (£66.7 million) and 10.1 per cent less than a year earlier.