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197826
Thu, 07/28/2011 - 10:41
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https://oananews.org//node/197826
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Hyundai Motor Q2 net jumps 37.3 pct on brisk sales
(ATTN: RECASTS headline; UPDATES with more details throughout)
SEOUL, July 28 (Yonhap) -- Hyundai Motor Co., South Korea's largest automaker, said Thursday that its second-quarter earnings jumped 37.3 percent from a year earlier on brisk sales at home and abroad.
Net profit came to 2.31 trillion won (US$2.18 billion) in the April-June period, compared with 1.68 trillion won a year earlier, the company said in a regulatory filing.
Sales rose 19.1 percent to 20.09 trillion won with operating profit rising 21.7 percent to 2.12 trillion won. All figures are consolidated, meaning they encompass results from Hyundai's domestic and overseas affiliates.
Despite the surge in net profit, shares of Hyundai Motor finished at 239,000 won on the Seoul bourse, down 1.65 percent from the previous session.
The company said the surge in second-quarter earnings came as sales rose 12.7 percent on-year to 1.04 million units in the three-month period.
"Demand rose across the board as many newly released models received high marks in various consumer reports and polls," Hyundai said in a press release.
Hyundai said it will strive to impress consumers with better cars in the future by taking advantage of the improved brand image and high product quality,
The carmaker, however, said that with competitors expected to launch new models and lingering economic uncertainties that could affect demand, the second half will pose new challenges.
The Korean won appreciated 12 percent against the U.S. dollar, which could hurt price competitiveness of locally made cars in overseas markets that accounted for 52 percent of all sales in the second quarter.
"For the time being, we will place an emphasis on pushing up the quality of growth," Hyundai said, adding there are no plans to expand overseas production capabilities.
In the first half, Hyundai's net profit jumped 41.3 percent on-year to 4.18 trillion won, with sales surging 20.2 percent to 38.32 trillion won and operating profit spiking 31.6 percent to 3.95 trillion won.
Hyundai said it had sold 1.95 million vehicles in the six-month period, up 11 percent from a year earlier.
SEOUL, July 28 (Yonhap) -- Hyundai Motor Co., South Korea's largest automaker, said Thursday that its second-quarter earnings jumped 37.3 percent from a year earlier on brisk sales at home and abroad.
Net profit came to 2.31 trillion won (US$2.18 billion) in the April-June period, compared with 1.68 trillion won a year earlier, the company said in a regulatory filing.
Sales rose 19.1 percent to 20.09 trillion won with operating profit rising 21.7 percent to 2.12 trillion won. All figures are consolidated, meaning they encompass results from Hyundai's domestic and overseas affiliates.
Despite the surge in net profit, shares of Hyundai Motor finished at 239,000 won on the Seoul bourse, down 1.65 percent from the previous session.
The company said the surge in second-quarter earnings came as sales rose 12.7 percent on-year to 1.04 million units in the three-month period.
"Demand rose across the board as many newly released models received high marks in various consumer reports and polls," Hyundai said in a press release.
Hyundai said it will strive to impress consumers with better cars in the future by taking advantage of the improved brand image and high product quality,
The carmaker, however, said that with competitors expected to launch new models and lingering economic uncertainties that could affect demand, the second half will pose new challenges.
The Korean won appreciated 12 percent against the U.S. dollar, which could hurt price competitiveness of locally made cars in overseas markets that accounted for 52 percent of all sales in the second quarter.
"For the time being, we will place an emphasis on pushing up the quality of growth," Hyundai said, adding there are no plans to expand overseas production capabilities.
In the first half, Hyundai's net profit jumped 41.3 percent on-year to 4.18 trillion won, with sales surging 20.2 percent to 38.32 trillion won and operating profit spiking 31.6 percent to 3.95 trillion won.
Hyundai said it had sold 1.95 million vehicles in the six-month period, up 11 percent from a year earlier.
