Nexen Tyre Secures Profits In Third Quarter of 2016

Nexen Tyre, one of the largest South Korean tyre making company was able to stabilise its turnover in the third quarter of this fiscal year. Although the turnover amounted to KRW 470.2 billion, it was down this time as compared to last year’s KRW 470.3 billion. But the great news for Nexen is that the operating profit, however, rose to 28.4% thus amounting to KRW 65.4 billion. Apart from that, Operating margin increased year- n-year from 11.0 percent to 13.9 percent. The company’s ordinary profit also increased up to 102.3 percent to KRW 53.6 bn.

As per the information provided by the Nexen Tyre, turnover in Europe rose by 3.5 percent, thus amounting to KRW 88.0 billion. The tyre maker reports that the 47 percent of turnover was achieved through sales of UHP (Ultra-High Performance) tyres. Last year this figure was around 45 percent.

Furthermore, if we account the total collection from all over the world, then the company made a turnover of KRW 194.4 bn from the UHP tyres. As far as the share of Nexen tyres is concerned, Europe accounted for 18.7 percent of Nexen tyre’s entire turnover, Europe’s share of UHP tyres amounted to 20.6 percent which was slightly above average.

Started way back in the year 1942, Nexen Tyre, is a premier South Korean tyre maker.

Author: Ankit verma

My need for speed began at a very early age and I realised this as soon as I got my first bicycle at the age of 8. When all the other kids would break downhill I would pedal harder just to go faster and enjoy the thrill. Adding to my interest for speed, I grew engrossed in the working mechanics of two wheelers thanks to my father as he is a hydraulic mechanic and would take me along with him on his repair sessions. Eventually I became familiar with the tools and basic technical concepts of two wheelers.Super sport and sport tourers are more of my liking and the sparks to these flames were ignited the first time I experienced the maddening power of a Yamaha YZF R1. I was just 14 years old at the time and got to ride as a pillion with an older acquaintance. This one short ride influenced my every decision in terms of the bikes I want to own. As of today I’m 26 years old and a proud owner of a Yamaha Fz15 version 2.0 and a Kawasaki Ninja 650 2014 model having clocked a decent 30k Kms only while touring, waiting to clock 1000s more as riding makes me feel whole again after enduring the dismal routines of life. Read more