Nexen: profit increased by 77%
Nexen Tire Corporation has announced the results of the third quarter of this year. According to the calculations, it was found that the company's operating profit has increased by 77% compared to the same period last year.
The demand for tires from the Korean company is growing at a high pace, both in the domestic and global markets. If last year the operating profit was $26 million, then in 2012 this figure grew to $47 million.
Sales volumes increased by almost 4% compared to the third quarter of this year and by 22.9% compared to the third quarter of 2011.
The greatest demand for Nexen tires is observed in the segment of high-speed tires of the Ultra High Performance class. In major markets, there is a growing demand for tires of other segments, however, in China, the company suffered a failure: sales in this country fell by 27%.
The demand for tires from the Korean company is growing at a high pace, both in the domestic and global markets. If last year the operating profit was $26 million, then in 2012 this figure grew to $47 million.
Sales volumes increased by almost 4% compared to the third quarter of this year and by 22.9% compared to the third quarter of 2011.
The greatest demand for Nexen tires is observed in the segment of high-speed tires of the Ultra High Performance class. In major markets, there is a growing demand for tires of other segments, however, in China, the company suffered a failure: sales in this country fell by 27%.