Ultra-high performance tires carry Hankook to a strong Q1

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Ultra-high performance tires carry Hankook to a strong Q1

Hankook Tire posted a strong first-quarter performance with operating profit improving 14.4 percent year-on-year to reach 254.4 billion won ($228 million). Sales were 1.67 trillion won.

The company said its brand value seems to be strengthened as sales of ultra-high performance (UPH) tires have increased recently. According to Hankook, UPH tire sales in the January-March period jumped 64 percent in Europe compared to the fourth quarter of 2012, while Asia-Pacific region also saw a 40 percent quarter-to-quarter increase. Sales in Russia soared 80 percent, the company said.

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