Profit reduction: Hyundai Motor, operating profit in the third quarter dropped 76%

By EarningEstimate, Company

Profit reduction: Hyundai Motor, operating profit in the third quarter dropped 76%

November 02, 2018

Hyundai Motor announced its performance on consolidated basis for the third quarter of 2018 on 25th October.

Net sales increased by 1.0% to 24,434.0 billion won (about 2,443.4 billion yen, 1 won = about 0.1 yen) compared to the same period last year,

Operating income fell 76.0% to 289 billion won,

Net income decreased by 67.4% to 306 billion won (see Table 1).

Demand in key markets slowed, the won’s stronger dollar weakened, and a sharp decline in emerging markets.

Temporary expenses related to quality improvement and marketing increased, and earnings fell compared to the same period last year.

– JETRO

https://www.jetro.go.jp/biznews/2018/11/b98a3f13b27f0dd0.html

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