ERJ staff report (LMH)
Seoul – Tire maker Hankook has posted second-quarter revenue of €1.28 billion, up 1.4% from the same period in 2012, with operating profit of €185.2 million, up 11.3% year-on-year.
The South Korean tire manufacturer also noted that it had a “healthy” operating profit to sales ratio of 14.5%. The company attributed this to growth in sales of its ultra-high-performance tyres, which continue to show improvement across all markets, particularly in China and North America, where sales rose by 32% and 15% respectively from the previous quarter.
In the second half of the year, Hankook expects to benefit from its flexible global supply network, particularly its newly constructed production facilities in Chongqing, China, and Cikarang, Indonesia. The tire maker will also continue to place emphasis in the development of its premium UHP products.
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News release from Hankook