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Hankook Tire net jumps near 30 pct in 2016

All News 16:37 February 03, 2017

SEOUL, Feb. 3 (Yonhap) -- South Korea's leading tire maker Hankook Tire Co. said Friday its net profit jumped nearly 30 percent from a year earlier in 2016, helped by a slight increase in sales and an apparent drop in costs.

Net profit came to 853 billion won (US$743.5 million) last year, up 29.9 percent from the previous year, the company said in a regulatory filing.

Sales gained 3.1 percent on-year to 6.63 trillion won, while operating profit spiked 24.7 percent to a little over 1.1 trillion won.

Hankook Tire net jumps near 30 pct in 2016 - 1

In the fourth quarter alone, sales came to 1.61 trillion won, up 1.2 percent from the same period last year.

Fourth quarter operating profit inched up 0.3 percent on-year to 239.7 billion won, while net profit slipped 3.1 percent to 183.6 billion won.


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