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.
In terms sales and revenue, how is your business shaping up in 2016 vs. 2015?
|Both sales and revenue are up||
32% (45 votes)
|Both sales and revenue are down||
23% (32 votes)
|Both sales and revenue are flat||
19% (26 votes)
|Sales are up, but revenue is flat to down||
12% (16 votes)
|Revenue is up, but sales are flat to down||
14% (20 votes)
|Total votes: 139|