Net profit climbs 17 percent for Hyundai Mobis as sales boom

Hyundai Mobis, Korea’s leading auto parts maker, said yesterday that its net profit jumped 17 percent last year from a year earlier on increased sales.

Net profit reached 3.54 trillion won ($3.25 billion) last year, compared with a profit of 3.03 trillion won a year earlier, the company said in a regulatory filing.

Sales also spiked 17 percent on-year to 30.79 trillion won over the cited period, and operating income surged 10.2 percent to 2.91 trillion won, it said.

The auto parts maker said the stellar performance was attributed to hefty sales of module and auto parts.

Its module business logged 24.06 trillion won in sales last year, up 15.1 percent from a year earlier, and its sales of auto parts rose 9.2 percent on-year to 5.89 trillion won over the cited period, according to the company.

Yonhap