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Kia Posts 12% Higher Profit
South Korea's Kia Motor Corp.'s profits climbed to 876 billion won ($842 million) in January-March 2014 from 784 billion won a year earlier.
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South Korea's Kia Motor Corp.'s profits climbed to 876 billion won ($842 million) in January-March 2014 from 784 billion won a year earlier.
First-quarter revenue grew 8% to 11.9 trillion won ($11 billion). Operating profit expanded nearly 5% to 736 billion won ($708 million) as exports increased 13%.
But Kia, which is 34% owned by Hyundai Motor Co., cautions that further strengthening of the won will hurt second-quarter results. The two companies said earlier that their combined sales growth this year is likely to be the slowest in more than a decade.
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