Hankook Tire: Revenues decline, operating profit up 23% in Q3 2016

Hankook Tire reports sales revenues of KRW 1.657 trillion for the third quarter of 2016, 3.9 per cent lower than in the corresponding quarter a year ago, and operating profit of KRW 297.1 billion. Operating profit increased 22.9 per cent compared to the same period of 2015.

Despite slower demand in the global market, positive sales of ultra-high performance tyres and original equipment tyres helped Hankook achieve what it says are “encouraging financial results, especially in Europe and China.” Revenue from ultra-high performance tyre sales accounted for 34.2 per cent of total sales.