Kia logs record $8.7 billion operating profit

Kia headquarters building in Seocho District, southern Seoul [YONHAP]

Kia logged a record 11.61 trillion won ($8.7 billion) operating profit last year, up 60.5 percent on-year.

The figure, however, fell short of the analyst forecast of 11.99 trillion won compiled by FnGuide.

Net profit soared 62.3 percent to 8.78 trillion won, below the consensus of 9.31 trillion won.

Sales also broke the record at 99.81 trillion won, up 15.3 percent on-year, down slightly from the market consensus of 100.76 trillion won.

Kia is expected to be ranked second in last year's earnings performance among Korean companies, with Hyundai Motor likely taking the top spot, as Kia’s operating profit alone is almost double that of Samsung Electronics, which long has been reigning on the top of the list.

Hyundai Motor will post its earnings report on Thursday afternoon.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]