April 20, 2024
Automobiles
Kumho Tire’s net profit dips 26% in Q2
[THE INVESTOR] Kumho Tire said on Aug.8 that its second-quarter profit declined 26.4 percent from a year earlier.
Net profit reached 195 billion won (US$173 million) on a consolidated basis during the April-June period, compared with a profit of 310 billion won a year earlier, the company said in a regulatory filing.
Operating income also sank 34.4 percent on-year to 204 billion won, with sales falling 3.5 percent to 1.67 trillion won.
Lower demand from the US and Europe hurt overall sales. Moreover, sharp declines in tire sales in China amid a row over the deployment of the THAAD system also drove down numbers.
By Alex Lee and newswires (alexlee@heraldcorp.com)
Net profit reached 195 billion won (US$173 million) on a consolidated basis during the April-June period, compared with a profit of 310 billion won a year earlier, the company said in a regulatory filing.
Operating income also sank 34.4 percent on-year to 204 billion won, with sales falling 3.5 percent to 1.67 trillion won.
Lower demand from the US and Europe hurt overall sales. Moreover, sharp declines in tire sales in China amid a row over the deployment of the THAAD system also drove down numbers.
By Alex Lee and newswires (alexlee@heraldcorp.com)
