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Hyundai’s Operating Profit Falls 18%
Hyundai Motor Co. reports its consolidated operating profit in January-March dropped to 1.6 trillion won ($1.5 billion) from 1.9 trillion won in the first quarter of 2014.
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Hyundai Motor Co. reports its consolidated operating profit in January-March dropped to 1.6 trillion won ($1.5 billion) from 1.9 trillion won in the first quarter of 2014. It was the fourth consecutive quarter of year-on-year shrinkage.
Net profit slipped 2% to 2 trillion yen ($1.8 billion). Vehicle sales advanced 1% to 1.13 million units, but unfavorable exchange rates cut revenue 3% to 20.9 trillion won ($19.3 billion).
Hyundai predicts its full-year sales will climb less than 3%, the smallest improvement in 12 years.
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