Hankook Q1 earnings up, sales down slightly

ERJ staff report (TB)

Tire Business Staff

Seoul — Hankook Tire Co. Ltd. reported a 10.4-percent gain in operating income in the quarter ended 31 March on 1.7-percent lower sales.

Hankook attributed its earnings improvement, to $234.7 million, to increased sales of premium tires,both in the replacement and OE segments. Ultra-high-performance tire sales in Europe, for example, jumped 64 percent, while premium tire sales grew 40 percent in Asia/Pacific.

Hankook did not comment on its performance in North America.

Sales overall…

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