Hankook Tire Q1 net down 15 pct to 95.9 bln won

Hankook Tire-Q1 earnings

Hankook Tire Q1 net down 15 pct to 95.9 bln won

SEOUL, May 12 (Yonhap) -- Hankook Tire & Technology Co. on Friday reported its first-quarter net profit of 95.9 billion won (US$72 million), down 15 percent from a year earlier.

The company said in a regulatory filing that it posted 190.9 billion won in operating profit for the quarter, compared with 126.1 billion won a year ago. Revenue rose 17.5 percent to 2.1 trillion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 147.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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