The loss-making years appear to be fully and finally behind Kumho Tire Co.
The South Korean company has reported a net profit of KRW 123.67 billion for full-year 2012 the best result since 2006 and a marked contrast from 2009, when the company posted a KRW 794.50 billion loss.
Kumho Tire entered into a debt work out program on Dec. 30, 2009, as a result of financial difficulties faced by parent company Kumho Asiana.
Total 2012 revenues were up 4% year-on-year to KRW 4.07 trillion, while operating income almost doubled to KRW 375.38 billion; the return on sales was 9.2%. (Tyres & Accessories)