Hankook Tire Q2 net rises 16 pct on increased sales

SEOUL, July 29 (Yonhap) -- Hankook Tire Co., South Korea's biggest tiremaker,
said Wednesday that its second-quarter earnings rose 16 percent from a year
earlier mainly due to increased sales and cost-cutting efforts.

Net profit reached 65.4 billion won (US$52.7 million) in the April-June period,
compared with a profit of 56.4 billion won a year earlier, the company said in a
regulatory filing.
Sales increased 8.4 percent to 672 billion won over the cited period, but
operating income fell 7.2 percent to 65.7 billion won, it said.
Shares of Hankook Tire closed at 18,300 won on the Seoul bourse, up 1.39 percent.
The second-quarter earnings were released before the market closed.
sam@yna.co.kr
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