Hyundai Motor Bucks Slump to Post Record Quarterly Profit

      April 27, 2012 11:45

      Despite the financial crisis in Europe and slumping sales in the domestic market, Hyundai Motor posted a record-high profit in the first quarter.

      It recorded an operating profit of W2.28 trillion, up 24.9 percent from a year ago, and a net profit of W2.45 trillion (US$1=W1,136), up 30.6 percent. Sales in the quarter reached W20.16 trillion, marking a rise of 10.6 percent from the corresponding period of 2011.

      This is the first time the company has surpassed the W20 trillion mark in any first quarter, when sales tend to be lower than at other times of the year. Its quarterly performance is second only to the W20.52 trillion it amassed in the fourth quarter of 2011.

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