Work stoppages dented Kia's quarterly earnings
Complex Made Simple

Work stoppages dented Kia's quarterly earnings

Work stoppages dented Kia's quarterly earnings

South Korea's second-largest carmaker Kia Motors has posted a 35% drop in its first quarter net profit from a year earlier due to a strong won and work stoppages, AFP has reported. Consolidated net profit fell to 784bn won ($706m) in the quarter, from 1.2trn won a year earlier. Sales were down 6% to 11.08trn won. Kia is an affiliate of South Korea's largest automaker Hyundai Motor. The two together form the world's fifth-largest carmaking group by sales.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved