Kia’s earnings dip 2.8%

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Kia’s earnings dip 2.8%

Kia Motors, Korea’s second-largest automaker, said its second-quarter earnings fell 2.8 percent on-year mainly due to losses from equity holdings in affiliates, despite brisk sales.

Net income came to 1.09 trillion won ($954.7 million) in the April-June period, compared to 1.12 trillion won tallied a year ago.

Sales rose 8.4 percent on-year to 12.6 trillion won in the three-month period, while operating profit jumped 18.1 percent to 1.2 trillion won.

For the six months of the year, Kia posted a record 2.3 trillion won in net profit, up 10.4 percent from a year ago on the back of strong overseas sales. Its first-half sales climbed 9.5 percent on-year to 24.3 trillion won and operating profit surged 25 percent to 2.34 trillion won.

Yonhap

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