SEOUL, South Korea—Hankook Tire Co. Inc. reported a 1.4 percent decrease in sales for the first half of 2017.
The firm reported sales of $2.89 billion for the first half. Sales for the second quarter came in at $1.46 billion, down 3.5 percent compared to the same period in 2016.
The firm's income before tax increased 13.6 percent for the quarter to about $190 million. It reported $370 million in income before tax for the half year.
Hankook attributed the drop in earnings to increased raw materials costs but did not comment on the reasons for the reduced revenue. The firm said that sales of ultra-high-performance tires increased during the quarter, raising the share of total sales they represent to nearly 37 percent.
The Seoul-based tire maker did not comment on the results of its regional subsidiaries.