Hankook earnings slide as UHP sales climb

Seoul, South Korea – Hankook Tire Co. Ltd.’s operating profit fell 8% in the quarter ended 31 March to $200.8 million (€183 million), despite a 0.8% increase in sales to $1.43 billion.

The company did not disclose what impacted its profits, but attributed its sales performance to its ultra-high performance tires and overall sales increase across different regions.

Sales of UHP tires increased 1.4%, compared with the same period last year. They accounted for 36.7% of total sales generated during the first quarter, the company said.

UHP sales…

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