Hankook Tire Q4 2013 operating profit up 14.6%

In a regulatory filing submitted to the Korea Stock Exchange, Hankook Tire reports sales of KRW 1,708.5 billion (£953.8 million) for the fourth quarter of 2013, a year-on-year increase of 0.5 per cent. Operating income, at KRW 254.8 billion (£142.2 million), was up 14.6 per cent compared to the fourth quarter of 2012. Net profit from continuing operations (before corporate income tax) was reported as KRW 237.0 billion (£132.3 million), a 15.1 per cent year-on-year increase. Net income was not reported.

Full-year 2013 sales amounted to KRW 7,059.9 billion (£3.9 million), up 4.3 per cent from 2012. Operating income for the year came to KRW 1,030.9 billion (£575.6 million) and was 12.2 per cent higher year-on-year. Net profit from continuing operations (before corporate income tax) for the year was KRW 997.0 billion (£556.6 million).