Following several years in the red, Kumho Tire Co. has turned its fortunes around and reported a net profit for the 2010 financial year.
The South Korean tiremaker recorded a net income of KRW 8,901 million during the year, a marked contrast from the loss of KRW 776,168 million a year earlier. Sales for 2010 amounted to KRW 2,701,990 million, a 42.6% year-on-year increase. Operating income during the year was KRW 244,947 million, as opposed to an operating loss of KRW 213,580 million in 2009. (Tyres & Accessories)