SHARE THIS ARTICLE

Kia Motors Corp. posted a 35 percent drop in first-quarter profit after production at its main domestic factories fell and the won strengthened against the yen.

Net income declined to 783.9 billion won ($707 million), from 1.2 trillion won a year earlier, the company said today in a statement. That lagged behind the 836 billion won average estimate of 19 analysts surveyed by Bloomberg for 28 days. Revenue fell 6 percent, though CFO Park Han Woo forecast sales in the current quarter will be higher than in the first.

 


Read Article


Kia Profits Tumble 35% In First Quarter

About the Author

Agent009