Kia races ahead with 28% on-year earnings jump in Q3

Kia Motors, Korea’s second-largest automaker, said yesterday that its third-quarter net profit jumped 28 percent on-year as robust overseas sales offset sluggish domestic demand.

Its consolidated net profit reached 829.4 billion won ($756 million) in the three months ended Sept. 30, compared with a 647.9 billion won profit a year earlier, the company said in a regulatory filing.

Sales rose 16.4 percent on-year to 11.6 trillion won during the July-September period, and operating profit increased 4.1 percent to 861.2 billion won, Kia Motors said.

For the first nine months of the year, Kia posted 3.1 trillion won in net profit, up 14.6 percent from a year ago. Sales climbed 11.6 percent on-year to 35.9 trillion won, and operating profit jumped 18.6 percent to 3.2 trillion won during the January-September period.
Yonhap