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Nexen Q1 earnings, sales up

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SEOUL, South Korea (May 20, 2014) — Nexen Tire Corp. reported a double-digit gain in operating for the quarter ended March 31 on 4.6-percent higher sales.

Operating income rose 12.8 percent to $50.4 million, while ordinary profit was up 2.4 percent to $40.8 million. Consolidated revenue rose to $424.3 million, as sales by the firm’s Chinese business unit jumped 7.8 percent while sales by the Korean unit dropped 2.7 percent.

Sales of high-performance tires jumped 13.5 percent, Nexen reported, and now account for 37.6 percent of net sales and 32.9 percent of unit volumes.

Nexen didn’t offer any commentary on the quarterly results.

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Previous | Published May 19, 2016

For how many generations has your independent tire business been in the family?

One generation
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(29 votes)
Two generations
36%
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Three generations
18%
(15 votes)
Four or more generations
11%
(9 votes)
Total votes: 83