Q3 2016: Kumho Tire operating profit in the black

Kumho Tire has reported an operating profit of KRW 9.5 billion (£6.5 million) for the third quarter of 2016; this result contrasts strongly with the KRW 6.0 billion loss recorded in the same three months of last year. Sales in the July to September period amounted to KRW 710.1 billion (£482.9 million), one per cent less than during the same period of 2015. The South Korean tyre maker’s third quarter net loss declined year-on-year from KRW 55.4 billion to KRW 32.0 billion (£21.8 million).