Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

S.Korea Kia Q4 net profit doubles, op profit down
reutersIndia ^ | Thu Jan 22, 2009 | n/a

Posted on 01/21/2009 11:03:09 PM PST by Jet Jaguar

Kia Motors Corp (000270.KS: Quote, Profile, Research), South Korea's No.2 automaker, on Thursday reported fourth-quarter net profit had almost doubled from the previous year as a weaker won lifted overseas sales and earnings from abroad.

Kia posted a 74.8 billion won ($54.67 million) net profit for the fourth quarter of 2008, in line with a forecast for 71.7 billion won by a Reuters poll of 10 analysts. The figure compares with a 38 billion won profit a year ago and a 22.1 billion won net loss in the third quarter of 2008.

But Kia also posted operating profit of 35.9 billion won for the quarter ended on Dec. 31, well short of a 157 billion won profit forecast.

That compared to a 98 billion won operating profit a year earlier and a 53.7 billion won profit in the third quarter of 2008.

The outlook for Kia is grim amid a global recession and financial crisis that have hit worldwide car sales and squeezed credit.

The maker of the Morning minicar, however, is expected to weather the storm better than many of its peers thanks to the softer won currency and its focus on smaller models, analysts said.

(Excerpt) Read more at in.reuters.com ...


TOPICS: Business/Economy; Foreign Affairs
KEYWORDS: kia; korea

1 posted on 01/21/2009 11:03:09 PM PST by Jet Jaguar
[ Post Reply | Private Reply | View Replies]

To: Jet Jaguar

Oops, a business that actually is making money. No bailout for you. We will tax you and give the money to your competitors who are losing money.


2 posted on 01/22/2009 5:51:15 AM PST by CharlesWayneCT
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson