SEOUL– Hankook Tire & Technology Co. on Thursday reported its fourth-quarter net profit of 28.5 billion won (US$23.3 million), down 65.4 percent from a year earlier.
The company said in a regulatory filing that operating income for the October-December period rose 140.1 percent on-year to 212 billion won. Revenue increased 19.9 percent to 2.26 trillion won.
The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 160.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency