SEOUL, South Korea—Hankook Tire Co. Inc. generated 57.9-percent higher operating profits last year vs. 2011 on 8.3-percent higher sales.
The South Korean tire maker said sales of its high-performance tires increased more than 30 percent over the previous year.
Operating income rose to $812.9 million on revenue of $6.26 billion for an earnings/sales ratio of nearly 13 percent, a four percentage point improvement.
Hankook recorded 20-percent growth in the U.S. last year, hitting $1.2 billion, as brand recognition and demand, both replacement and original equipment. improved, the company said.