Hankook swings to loss in Q3

ERJ staff report (DS)

Seoul, Korea -- Hankook Tire swung to a loss in the three months ended September 2008. The company reported a net loss of KRW 14 788 million (Euro 8.96 million) for the period, compared with a profit of KRW 38 411 million a year earlier. Sales in the three months amounted to KRW 667 000 million, up from KRW 562 000 in the same period a year ago.

The company was strongly in profit for the nine-month period, though the profitability fell by half. Sales for the nine months were KRW 1.953 million million (Euro 1183 million), up from 1.651 million million a year earlier. Net profit stood at KRW 79 182 million, down from KRW 152 000 million in the first nine months of 2007.

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Results statement from Hankook (Korean language)