SEOUL – Kumho Tire Co. has reported a substantial increase in its net profit for the second quarter, significantly surpassing the previous year's figures.
According to Yonhap News Agency, Kumho Tire's net profit for the April-June period reached 80.8 billion won ($58.3 million), marking a 167.1 percent increase from the same period last year. The company also saw a 72 percent rise in operating income to 151.5 billion won, with sales growing 12.7 percent to 1.13 trillion won. These results exceeded market expectations, with analysts having predicted a net profit of 79.9 billion won, based on a Yonhap Infomax survey.