Hankook Continues to Grow Sales in Q3, Operating Profit Down
Record quarterly sales in the emerging markets of Korea, China and Hungary helped Hankook achieve growth in sales following the slight downturn in 2010’s second quarter, though year-on-year operating profit remained 40.6 per cent down on the Korean manufacturer’s 2009 results. Sales topped 1.5 trillion South Korean won (£840 million), recording 7.1 per cent year-on-year increase. The company’s third quarter operating profit was KRW163.4 billion (£91.5 million), 8 per cent down on the second quarter, where rising raw materials costs have continued to be a factor. Hankook stated it aims to achieve a sales target that exceeds KRW5 trillion (£2.8 billion) this year.