Kumho Experiences a Sense of Loss in Q2
The red ink was in demand at Kumho Tire during the preparation of its second quarter 2009 results. The South Korean manufacturer posted a net loss of KRW 98.3 billion (£48.15 million) during the three months to June 30. Sales in this period were down 23 per cent year-on-year to from KRW 614.3 billion (£300.90 million) to 468.6 billion (£229.53 million). The company also posted an operating loss of KRW 52.8 billion (£25.86 million) during the quarter.