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Hankook Tire & Technology Q1 net income down 41 pct to 103.2 bln won

Economy 15:25 May 11, 2022

SEOUL, May 11 (Yonhap) -- Hankook Tire & Technology Co. on Wednesday reported its first-quarter net income of 103.2 billion won (US$80.9 million), down 41 percent from a year earlier.

Operating profit for the January-March period was 126.1 billion won, down 32.2 percent from a year ago, the company said in a regulatory filing. Sales rose 10.8 percent to 1.79 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 76.1 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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