Nexen Tire Corp. reported earnings results for the fourth quarter and full year 2014. The company posted a 4.7% year-on-year gain in net profits for the full year 2014. Total net profits in the year stood at KRW 129.8 billion. Operating profits also rose, by 18% year-on-year to KRW 208.6 billion, despite sales revenues gaining just 1.8% year-on-year to KRW 1.76 trillion.

During the fourth quarter, the company posted operating profits of KRW 56.4 billion, up 51.6% year-on-year, while sales revenues gained 7.7% year-on-year during the period to KRW 437 billion. The company revealed that its sales in South Korea benefited from marketing activities and an improved product mix, although its sales in the North American market grew only modestly because of competition from Chinese tyre-makers.