Hankook Tire: Operating profit down 10.4% in Q2 2018

6th August 2018 | 0 Comments
 
Hankook Tire: Operating profit down 10.4% in Q2 2018
Hankook Tire: Operating profit down 10.4% in Q2 2018

At KRW 1.67 trillion (£1.14 billion), sales were up 2.3 per cent year-on-year for Hankook Tire in the second quarter of 2018, however this didn’t stop operating profit slipping 10.4 per cent to KRW 183.2 billion (£125.3 million). According to the tyre maker, operating profit was reduced compared with the same period of last year due to initial operating costs in its tyre plant in Tennessee, USA as well as increasing competition in the Korean market. The operating margin decreased from 12.3 per cent to 10.7 per cent.

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Category: Company News