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Hyundai Net Income Jumps 31%
Hyundai Motor Co. reported net profit of 2.45 trillion won ($2.2 billion) for the first quarter of this year compared with 1.88 trillion ($1.7 billion) won in the same period of 2011.
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Hyundai Motor Co. reported net profit of 2.45 trillion won ($2.2 billion) for the first quarter of this year compared with 1.88 trillion ($1.7 billion) won in the same period of 2011.
Revenue rose 11% to 18.23 trillion won ($16 billion) as global sales advanced 17% to 1.1 million vehicles.
Companywide operating profit climbed 25% to 2.28 trillion won ($2 billion), which includes a 42% surge to 1.51 trillion won ($1.3 billion) at the automotive unit.
Hyundai outperformed shrinking car markets in Europe and China with unit sales gains of 13% and 7%, respectively. The company now expects to surpass its full-year European sales target of 465,000 vehicles, an increase of more than 15% from last year.
Hyundai raised its 2012 growth forecast for the global auto market to nearly 6% from the 4% it predicted in January.
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