Hankook eyes continued sales growth, profits rebound in 2018

Seoul, South Korea — Hankook Tire Co. Ltd.’s fiscal 2017 operating income dropped 28.1% due to elevated raw materials costs, but management expects profits to rebound in 2018 as the company focuses on increasing its sales of higher value-added products and diversifying its OE portfolio.

Operating income fell to $701.8 million on 2.9% higher revenue of $6.02 billion, Hankook reported, dropping the operating ratio five points to 11.6%.

The company did not disclose net earnings at this time.

Hankook attributed the revenue growth to increased sales of larger…

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