Nexen: profit increased by 77%
21 november 2012
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%.