Kumho Tire Q2 net profit up 167.1 pct to 80.8 bln won

Kumho Tire Co. on Tuesday reported its second-quarter net profit of 80.8 billion won (US$58.3 million), up 167.1 percent from a year earlier. Operating income for the April-June period was 151.5 billion won, up 72 percent from a year ago, the company said in a regulatory filing. Sales rose 12.7 percent to 1.13 trillion won. The earnings beat market expectations. The average estimate of net profit by analysts stood at 79.9 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency