Kia Motors Corp., South Korea's second-largest automaker, said Friday its fourth-quarter net profit shot up 28.7 percent from a year earlier.
Net profit came to 949 billion won (US$881.8 million) in the October-December period, compared with 737.4 billion won a year earlier, the Seoul-based company said in a regulatory filing.
The quarterly gains were mainly attributed to a rebound from poor showing last year.
Sales topped 11.76 trillion won, up 4.3 percent from the same quarter a year ago, while operating profit soared 60.8 percent to 650.2 billion won.
For the whole of 2013, however, the bottom line was down 1.2 percent to 3.81 trillion won, with operating profits dropping 9.8 percent to 3.17 trillion won.
Sales, on the other hand, edged up 0.8 percent to just under 47.6 trillion won, the carmaker reported.
Kia said the stronger Korean won against the Japanese yen affected profits last year, but emphasized that gains in sales showed the growing competitiveness of the brand in the global market. (Yonhap)
Net profit came to 949 billion won (US$881.8 million) in the October-December period, compared with 737.4 billion won a year earlier, the Seoul-based company said in a regulatory filing.
The quarterly gains were mainly attributed to a rebound from poor showing last year.
Sales topped 11.76 trillion won, up 4.3 percent from the same quarter a year ago, while operating profit soared 60.8 percent to 650.2 billion won.
For the whole of 2013, however, the bottom line was down 1.2 percent to 3.81 trillion won, with operating profits dropping 9.8 percent to 3.17 trillion won.
Sales, on the other hand, edged up 0.8 percent to just under 47.6 trillion won, the carmaker reported.
Kia said the stronger Korean won against the Japanese yen affected profits last year, but emphasized that gains in sales showed the growing competitiveness of the brand in the global market. (Yonhap)
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