Operating income jumped 57.4% from 174.54 billion won (£94.5 million) in 2006 to 274.79 billion won (£148.7 million) last year.
The company’s ordinary income results for the year were less positive: In 2007 this was recorded as 227.18 billion won (£122.9 million), a slightly lower (-1.0%) figure than in 2006. The company has not as yet reported its net income for 2007, however its fourth quarter (to December 2007) net profit declined 72.1% from a year earlier to 7.04 billion won (£3.8 million). Hankook attributed increases in raw material costs for this significant drop in quarterly profit. (Tyres & Accessories/Staffordshire, U.K.)