Kia Motors second quarter net profit 67% year on year thanks to strong overseas sales.
Net profit rose to KRW1.128 trillion (US$1.1bn) in April-June compared with KRW676.1bn a year earlier, the Hyundai Motor affilate reported, according to AFP.
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Sales increased 25% to KRW11.581 trillion as 622,264 cars were sold in the three-month period. Operating profit jumped 56% to KRW1.03 trillion.
“The good performance resulted from solid sales of new models in overseas markets, cost control and Kia’s improved brand-competitiveness,” CFO Lee Jae-Rok told AFP.
First half net profit rose 77.2% to KRW2.08 trillion, sales were up 30.5% to KRW22.23 trillion and operating profit soared 69.5% to KRW1.87 trillion.
Kia said it would launch a replacement for its Pride small car and a light crossover in the second half.
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