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You are here: Home1 / operating profit

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Hankook increases operating profit, sales

Company News

On the back of an expanding original equipment portfolio and higher ultra-high performance tyre sales Hankook Tire has reported increased operating profits and sales in its third quarter, reversing a year-long downward trend. The manufacturer has global sales revenues of 1,250 million euros (KRW 1.72 trillion), with operating profit of 208 million euros (KRW 276 billion).

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Related news:

  1. Hankook Tire Q4 2013 operating profit up 14.6%
  2. UHP tyre sales key to rising Hankook operating profit
  3. Hankook: Sales Up 15.3 per cent
  4. Rising UHP sales drives Hankook operating profit higher
30th October 2014/by Andrew

Bridgestone markedly lifts margins, improves European performance in Q1

Company News

During the first quarter of fiscal 2014, Bridgestone achieved net sales of 863.6 billion yen (£5.0 billion), an 8.7 per cent year-on-year increase on the 1 January to 31 March 2013 quarter. Operating income was 116.3 billion yen (£677.1 million), up 56.3 per cent year-on-year, while operating margin rose from 9.4 per cent a year ago to 13.5 per cent in the first quarter of 2014. Net income increased 66.9 per cent year-on-year to 71.9 billion yen (£418.6 million).

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Related news:

  1. Bridgestone Projects Significantly Improved Financial Result
  2. Bridgestone H1 Results Highlight Across the Board Growth
  3. Bridgestone Q3 results – sales and profit up
  4. Bridgestone sales, profit up – ¥57 dividend per share announced
12th May 2014/by admin

Nokian Tyres revises forecast – sales, operating profit to decline

Company News, International News

Due to a weaker economic forecast for Russia and the CIS, Nokian Tyres has downgraded its guidance for 2014 and now says net sales and operating profit will decline this year compared with 2013. This latest forecast replaces that published on 7 February, in which Nokian Tyres said it was positioned to show growth in net sales and operating profit this year.

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Related news:

  1. An Untapped Resource? Nokian’s Kazakhstan factory bid
  2. Half Year Loss Reported By Nokian Tyres
  3. Turnover And Profits Up For Nokian
  4. Nokian employs ‘C3’ system to organise product and materials scheduling
3rd April 2014/by admin

Nexen makes little progress in 2013

Company News

In the previous financial year, Nexen Tire only managed to slightly increase its global turnover. The third-largest Korean tyre maker reported a 2013 turnover of KRW 1.73 trillion (£973.38 million), just 1.3 per cent higher than in 2012. Income also came under pressure. While operating profit amounted to KRW 177 billion (£99.38 million) and lay 1.9 per cent below the previous year’s result, net profit decreased 7.8 per cent to KRW 124 billion (£69.63 million).

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Related news:

  1. Nexen Tire sales, profit increases in Q2
  2. UHP tyre sales key to rising Hankook operating profit
  3. Rising UHP sales drives Hankook operating profit higher
  4. Bridgestone markedly lifts margins, improves European performance in Q1
19th February 2014/by admin

Toyo increases turnover and operating profit – but net profit down in 2013

Company News

Turnover at Toyo Tire & rubber rose 27 per cent during the 2013 financial year to ¥370 billion (£2.2 billion), the company reports, while operating profit almost trebled to ¥38.3 billion (£224.6 million); operating margin was 10.3 per cent. Despite these favourable figures, Toyo’s bottom line was significantly below its result a year earlier; net profit fell 12.3 per cent to ¥11.6 billion (£68.0 million).

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Related news:

  1. Nexen OE sales up 47% in Q3
  2. Toyo Posts Net Loss in Q1 2008
  3. Toyo’s US expansion plans – update
  4. Hankook Tire Q4 2013 operating profit up 14.6%
17th February 2014/by admin

Further growth for Apollo Tyres in prior quarter

Company News

For the third quarter of its financial year – October to December 2013 – Apollo Tyres reports an 8.0 per cent year-on-year rise in consolidated revenue to Rs 34.75 billion (£336.1 million). Operating profit increased 51.2 per cent to Rs 6.19 billion (£66.7 million), a result that includes exceptional items of Rs 1.12 billion (£10.8 million) from non-operational income, and a 17.8 per cent operating margin. Net profit, including the aforementioned non-operational income, rose 86.7 per cent to Rs 3.38 billion (£32.7 million).

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Related news:

  1. Apollo net profit up 44% in June-September quarter
  2. Annual Profits More than Double for Sibur-Russian Tyres
  3. Annual Profits More than Double for Sibur-Russian Tyres
  4. Apollo Tyres Sales Up 60%
17th February 2014/by admin

Michelin FY2013 net profits down 28 per cent…

Company News

Michelin has reported full year 2013 net sales of 20.247 billion euros, down 5.7 per cent (or 1.2 billion euros) on last year. Meanwhile operating income was fell roughly 10 per cent to 2.234 billion euros and net income plummeted some 23 per cent to 1.127 billion euros. According to Dow Jones analysts’ consensus was that this figure would fall less – by 22.0 per cent, and operating profit to retreat by 5.8 per cent.

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Related news:

  1. Analysts: Michelin H1 Results “Good”
  2. Analysts: Michelin 1Q figures below consensus
  3. Conti Hails ‘Record Breaking’ Second Quarter
  4. Strong Truck Tyre Demand Means Short Supply in Europe
12th February 2014/by admin

UHP tyre sales key to rising Hankook operating profit

Company News

Hankook Tire says sales of its UHP tyres were a “key growth driver” in boosting operating profit last year. Accumulated UHP segment sales accounted for 26.5 per cent of Hankook Tire’s entire global sales; UHP tyre sales rose 3.4 per cent year-on-year, growth led by the Chinese and European markets, where accumulated UHP tyre sales rose 13.6 per cent and 12.9 per cent year-on-year respectively.

Read more

Related news:

  1. Hankook Tire Q4 2013 operating profit up 14.6%
  2. Rising UHP sales drives Hankook operating profit higher
  3. Nexen makes little progress in 2013
  4. Bridgestone markedly lifts margins, improves European performance in Q1
29th January 2014/by admin

Hankook Tire Q4 2013 operating profit up 14.6%

Company News

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.

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Related news:

  1. UHP tyre sales key to rising Hankook operating profit
  2. Nexen OE sales up 47% in Q3
  3. Toyo increases turnover and operating profit – but net profit down in 2013
  4. Bridgestone markedly lifts margins, improves European performance in Q1
28th January 2014/by admin

Deutsche Bank revises Bridgestone outlook

Company News

Deutsche Bank Equity Research Automotive has adjusted its 2013 and 2014 earnings outlook for Bridgestone Corporation. In a company update published on 18 November, analyst Kurt Sanger wrote that overall, Bridgestone’s strong third quarter performance highlighted the company’s “operational excellence through cost controls.”

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Related news:

  1. Michelin discusses mid-term targets
  2. Nexen Q3 figures below consensus
  3. US Replacement Shipments up 1 per cent
  4. Rubber prices reach new low
18th November 2013/by admin

Apollo net profit up 44% in June-September quarter

Company News

During the second quarter of its financial year, the period from 1 June to 30 September, Apollo Tyres reported net sales of Rs 34.3 billion (£338.2 million), a slight increase on the same quarter a year earlier. Operating profit rose 16 per cent in the quarter to Rs 4.4 billion (£43.3 million), while net profit soared 44 per cent to Rs 2.2 billion (£21.7 million).

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Related news:

  1. Despite positive H1 results, Apollo wary of slowing growth
  2. Further growth for Apollo Tyres in prior quarter
  3. Apollo Net Sales Up 24% in Q1
  4. Apollo Ranked in Indian Top 10 for Shareholder Return
11th November 2013/by admin

Nexen OE sales up 47% in Q3

Company News

During the third quarter of 2013, net sales at Nexen Tire Corporation declined 2.9 per cent to KRW 438.5 billion (£253.9 million), the company reports. Gross profit rose 3.6 per cent compared with a year earlier to KRW 124.7 billion (£72.2 million) while operating profit was 12.1 per cent down at KRW 46.3 billion (£26.8 million). EBITDA was 3.1 per cent lower at KRW 71.9 billion (£41.6 million), with the margin stable at 16.4 per cent.

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Related news:

  1. Nexen Tire sales, profit increases in Q2
  2. Nexen Q1 results
  3. Yokohama 2013 net income climbs 7.3%
  4. Toyo increases turnover and operating profit – but net profit down in 2013
4th November 2013/by admin

Carlisle sells tyre and wheel business

Company News

In July, Carlisle Companies announced it was seeking “strategic alternatives” for its Carlisle Transportation Products (CTP) business after it recorded a non-cash pre-tax loss of $100 million due to goodwill impairment during the second quarter of 2013. This strategic alternative turned out to be a divestment; this week the company said the tyre and wheel business has been purchased by American Industrial Partners for an enterprise value of US$375 million. The deal is expected to close in the first quarter of 2014.

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Related news:

  1. Sale of Carlisle Transportation Products completed
  2. Carlisle Tire & Wheel Sales up 19 per cent
  3. Carlisle Net Sales Increase in 2007
  4. Tata Nano Tyre Sizes Revealed
24th October 2013/by admin

Michelin discusses mid-term targets

Company News

At the Autumn Conference organised by Luxembourg-based broker Kepler Cheuvreux and held in Paris on 18 September, Michelin chief executive officer Jean-Dominique Senard confirmed the tyre maker’s 2015 operating profit target of €2.9 billion, some 20 per cent higher then 2013 estimates. He also said that capital expenditure is expected to peak between €1.8 billion and €2.2 billion in 2014 and 2015 before declining to between €1.6 billion and €1.9 billion in 2016 and €1.5 billion and €1.8 billion in 2017.

Read more

Related news:

  1. Deutsche Bank revises Bridgestone outlook
  2. China to host Michelin’s ‘Challenge Bibendum’ in November
  3. Conti to Boost Junior Staff Numbers in 2010
  4. Michelin acquires share in fuel cell firm
19th September 2013/12,345 Comments/by admin

Nexen Q2 results fall short of expectations

News

Nexen Tire’s second quarter results failed to live up to average analyst expectations. Although unit sales rose 17 per cent year-on-year, a ten per cent drop in average selling price compared with the second quarter of 2012 meant net sales revenue only increased 3.7 per cent to KRW 451.1 billion (£262.0 million) – 12.1 per cent lower than the consensus estimate of KRW 463.21 billion. Gross profit rose 4.6 per cent to KRW 125.1 billion (£72.7 million) and gross profit margin increased 0.2 per cent to 27.7 per cent.

Read more

Related news:

  1. Nexen Q1 results
  2. Nexen Tire sales, profit increases in Q2
  3. Nexen OE sales up 47% in Q3
  4. Nexen Tire America Announces Price Increase
8th August 2013/12,345 Comments/by admin
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