Hyundai Mobis Q2 net soars 23.4 pct on higher sales

SEOUL, July 28 (Yonhap) -- Hyundai Mobis Co., South Korea's leading auto parts maker, said Thursday that its second-quarter earnings rose 23.4 percent from a year earlier on increased sales.
Net profit reached 898.3 billion won (US$853.4 million) in the April-June period, compared with a profit of 728.2 billion won a year earlier, the company said in a regulatory filing.
Sales shot up 16.1 percent to 6.56 trillion won over the cited period, with operating income also gaining 3.9 percent to 734.3 billion won, it said.
Despite the surge in net profit, shares of Hyundai Mobis ended down 2 percent at 392,000 won on the Seoul bourse.
"Rising exports and sales of expensive components contributed to pushing up earnings during the second quarter," the company said.
For the first half, net profit jumped 20.5 percent on-year to 1.69 trillion won, with sales rising 19.5 percent to 12.75 trillion won and operating profit rising 5.2 percent to 1.42 trillion won.
Hyundai Mobis is an affiliate of Hyundai Motor Co. and Kia Motors Corp., the country's two major automakers.