Hyundai Mobis’s net is flat after overseas spending

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Hyundai Mobis’s net is flat after overseas spending

Hyundai Mobis, Korea’s leading auto parts maker, earnings in the second-quarter fell 1.6 percent from a year earlier due to increased spending on new overseas plants.

Net income came to 884 billion won in the April-June period, compared with a profit of 898.3 billion won from a year ago. Sales jumped 17.3 percent on-year to 7.7 trillion won, while its operating income slid 3.9 percent to 705.5 billion won.
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