Hankook Tire net jumps near 30 pct in 2016

SEOUL, Feb. 3 (Yonhap) -- South Korea's leading tire maker Hankook Tire Co. said Friday its net profit jumped nearly 30 percent from a year earlier in 2016, helped by a slight increase in sales and an apparent drop in costs.

Net profit came to 853 billion won (US$743.5 million) last year, up 29.9 percent from the previous year, the company said in a regulatory filing.

Sales gained 3.1 percent on-year to 6.63 trillion won, while operating profit spiked 24.7 percent to a little over 1.1 trillion won.

In the fourth quarter alone, sales came to 1.61 trillion won, up 1.2 percent from the same period last year.

Fourth quarter operating profit inched up 0.3 percent on-year to 239.7 billion won, while net profit slipped 3.1 percent to 183.6 billion won.

bdk@yna.co.kr
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