Nexen Tire reports declining sales and profits for the quarter
Nov 25, 2020
Korean tire maker Nexen Tire reported declining sales and revenues in the third quarter of 2020.
Nexen Tire was unable to maintain its third-quarter sales compared to the previous reporting period, according to stock exchange reports. The company's sales for the July-September period were KRW 467.3 billion (€353 million), down almost 40% from the second quarter. However, compared to the same period last year, sales fell by only 13%.
The tire manufacturer's operating profit was down almost 35% year-on-year to 100.7 billion won (76 million euros).
Financial reports have not been published on the official website of the tire manufacturer since 2018.
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