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Hankook sales, profits dip in Q2

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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.

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TB Reader Poll

Previous | Published August 31, 2015

With the subject of Chinese-sourced tire garnering so much attention, do consumers really care about where their tires come from? How many of your customers ask about the origin of tires they’re buying?

None
18%
(34 votes)
10%
26%
(49 votes)
11 to 20%
13%
(25 votes)
21 to 35%
14%
(27 votes)
36 to 60%
21%
(39 votes)
All of them
8%
(16 votes)
Total votes: 190