Tire manufacturer in Hankook Tires review, announces the financial statements for the second quarter of 2013. The Korean tire manufacturers continue to record positive growth.
The company posted a consolidated quarterly revenue of $ 1, 66 billion. Quarter operating profit amounted to USD241, 8 million, which marks a healthy operating profit to sales ratio of 14.5 percent can be seen in this Hankook Tires review.
Although market demand in global tire industries continue to fluctuate in the quarter, Hankook Tire's global consolidated revenue stability to be maintained sales growth.
Characterized by firm-quarter revenue increased by 1.4 percent year on year, almost equal to the growth rate in the second quarter of 2012. Operating profit as a key attribute to assess the performance of the company's core business, is even more impressive with a strong record YoY increase of 11.3 percent.
Continue growing recognition of Hankook Tire's innovative technology and quality performance of had seen an increase in sales growth in the premium tire segment.
Sales of Ultra-High Performance Tire (UHP) Hankook Tire continues to show significant growth in the market, especially in China and North America. UHP tire sales in both markets rose respectively by 32 percent and 15 percent from the previous quarter.
For the second half of this year, Hankook Tire will sharpen their ability to compete with global supply networks through a flexible operational stability obtained through a new production facility in Chongqing, China and Indonesia.
"We are proud of the achievements in the second quarter of 2013 that showed solidarity in all aspects of Hankook Tire. Results also as an expression of our understanding of the foundations of firm growth in the future based on a portfolio of global production is balanced and the ability of R & D are qualified," said Seung Hwa Suh, Vice Chairman & CEO of Hankook Tire.
"By basing the ongoing capital investment that aims to balance growth, both in quantity and quality, we will continue to put the track record and solid product quality in the automotive world as well as smoothing the top five players to be the best tires in the world." he concluded.
