Current Issue

Hankook sales, profits dip in Q2

Comments Email

SEOUL, South Korea (July 30, 2014) — Hankook Tire Co. Inc. suffered 7.4- and 11.2-percent drops in operating income and sales, respectively, for the second quarter of fiscal 2014.

Hankook, the world’s No. 7 tire maker, did not elaborate on the reasons for the declines or provide any regional comparisons.

For the quarter ended June 30, operating income fell to $243.8 million as sales dropped to $1.66 billion. As a result, the operating result improved slightly to 15.1 percent.

The UHP tire segment accounted for 30 percent of the company’s consolidated quarterly sales, Seoul-based Hankook said.

For the half year, operating income slipped 4.3 percent to $496.3 million as sales dipped 6 percent to $3.24 billion. The operating result was up slightly to 15.3 percent.

More Polls>

TB Reader Poll

Previous | Published July 14, 2016

Is the uncertainty swirling about the U.S. presidential election this fall having any effect on your business plans?

We've decided to put investments on hold.
8%
(7 votes)
We're not doing any hiring until the election's over.
7%
(6 votes)
It doesn't matter a bit. We're going full speed ahead.
34%
(30 votes)
We're taking a cautious approach and weighing every decision.
30%
(26 votes)
Is it too late to move to Canada?
15%
(13 votes)
I'm not planning to vote. It would be too painful.
7%
(6 votes)
Total votes: 88