Hankook Tire operating profit up 21.7% in Q3
South Korean leading tire maker Hankook Tire said Thursday that its operating profit gained 21.7% in the third quarter year on year, boosted by brisk overseas sales of its ultra-high performance (UHP) tires, chiefly inChinaandNorth America.
The company’s operating profit hit 219.6 billion won (201 million U.S. dollars) in the three months ending Sept. 30, up 21.7% from the same period of 2011.
Hankook saw its sales expand 5.8% in the third quarter from a year earlier to 1.79 trillion won.
In addition to the strong market demand for Hankook’s UHP tires, new original equipment (OE) fitment agreements inChinaandNorth Americaalso contributed to the company’s business growth, said the company.
Hankook is the world's seventh-largest tire maker by sales.
(Contributed by Olivia, olivia@tireworld.com.cn)
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