Hankook Tire & Technology Q4 net profit up 358.9 pct to 177.3 bln won

Hankook Tire and Technology Co. on Friday reported a fourth-quarter net profit of 177.3 billion won (US$134.1 million), up 358.9 percent from a year earlier. The company said in a regulatory filing that it posted 492.4 billion won in operating profit for the quarter, compared with 212 billion won a year ago. Revenue fell 1.4 percent to 2.23 trillion won. The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 295.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency