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Kia Motors Net Profit Rose 52% on Year in 2Q

By Kwanwoo Jun

 

Kia Motors Corp.'s (000270.SE) second-quarter net profit rose 52.3% on year, largely driven by the weaker Korean won, the South Korean car manufacturer said Tuesday.

Net profit for the quarter ended June was 505.39 billion Korean won (US$429.42 million) compared with KRW331.90 billion in the same quarter a year earlier. The results beat consensus forecast for KRW498.94 billion net profit, according to FactSet.

Revenue during the quarter rose 3.2% on year to KRW14.51 trillion.

Operating profit for the quarter was up 51.3% on year at KRW533.62 billion.

For the first half, net profit was KRW1.15 trillion, while revenue was KRW26.95 trillion.

 

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

 

(END) Dow Jones Newswires

July 22, 2019 21:47 ET (01:47 GMT)

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