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Category Financial News
Hankook Tire Announces 2017 Third Quarter Results
BRAMPTON, ON – November 16, 2017 – Hankook Tire has released its third quarter financial results for 2017, with global sales totalling $1.98 billion and an operating profit of $233.4 million.
Hankook Tire saw its sales and operating profit rise by 9.5% and 4.6%, respectively, compared to its previous quarter. Compared to the same period last year, sales have increased by 10.1% but its operating profit has decreased by 29.2%.
The increase in sales is largely attributed to the continued sales of its UHPT and an increase in winter tire sales in Europe. Prominent sales of UHPT tires and an expansion of premium Original Equipment Tires (OET) in the Chinese market along with sales in emerging Southeast Asian markets also contributed to the brand’s strong sales.