Kumho in the black in Q3

Seoul – Kumho Tire Co. Inc. reported an operating profit of $8.6 million (€8 million) in the quarter ended 30 Sept, reversing an operating loss in the 2015 third quarter and its third straight profitable quarter in 2016.

The operating profit represents a 1.3% earnings ratio, based on the Korean tire maker’s sales of 643.8 million for the quarter, a 1% drop from 2015.

Kumho cited reduced OE sales – due to vehicle makers’ strikes in Korea – and lower global replacement tire demand for the lower…

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