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S Korea's Hankook Tire reports 21.7% rise in Q3 operating profit  Join our daily free Newsletter

MENAFN - 01/11/2012

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(MENAFN) Hankook Tire's vice chairman and chief executive, Suh Seung-hwa, announced that the company's third-quarter operating profit grew 21.7 percent from 2011's same period to USD201 million, reported Xinhua News.

He attributed the increase to strong overseas demand for the South Korean company's ultra-high performance (UHP) tires.

In the quarter, sales of the firm, whose products will be factory-installed in the premium sedans, including Ford Lincoln and Chrysler Dodge, rose 5.8 percent on annual basis, reaching USD1.64 billion.

UHP revenues in North America hiked 68.9 percent, whereas they surged 50 percent in China and 10.9 percent in Europe, according to the world's seventh-largest tire manufacturer.

 






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