Kumho in the red for second straight year

ERJ staff report (TB)

Seoul, South Korea — Kumho Tire Co. Inc. reported a net loss of KRW 203 339 million (Euro 103 million) for the 12 months to December 2008 despite higher gross profits and sales.

The net loss is the second consecutive for the company, which reported 13.8 percent higher sales of KRW2.385 million million (euro 1207 million). The operating earnings fell 63.7 percent to KRW 36.2 million, according to data presented to the London Stock Exchange.

Kumho’s sales slumped measurably in the…

To read more,please login or register below.

This is the first step to more free
content, user offers, subscriptions
and more.
Log in here using the Email Address
and Password you signed up with