02/06/2015

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KOREA (SOUTH): Hankook Tire's 2014 revenue skids 5.5 percent to $6 billion

The company said its operating profit in 2014 was only 100 million won higher than the 1.03 trillion won it posted in 2013. The company said its operating profit ratio went down 0.8 percentage point year-on-year to 15.4 percent. The company said its revenue dropped because of the global economic slump and currency situation, adding that bright spots last year were sales of ultra-high-performance tires (UHPTs) and stable demand from premium auto brands. Hankook said sales of UHPTs, which are 30 percent of global sales, grew 6.8 percent year-on-year. Source: Korea JoongAng Daily, Seoul; 31 Jan 2015
(Syed Rashid Ali, Karachi, Pakistan)

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