hyundai motors profit tumbles on currencys relative strength
Last Updated : GMT 10:03:45
Arab Today, arab today
Arab Today, arab today

Hyundai Motor's profit tumbles on currency's relative strength

Arab Today, arab today

Arab Today, arab today Hyundai Motor's profit tumbles on currency's relative strength

Hyundai Motor
Seoul - XINHUA

Hyundai Motor's second-quarter operating profit tumbled due to the relative strength of the South Korean currency compared with its peers of Japan and other emerging currencies, the company said on Thursday.

Operating profit sank 16.1 percent from a year earlier to 1.75 trillion won (1.5 billion U.S. dollars) in the second quarter. It was roughly in line with market expectations, marking the profit reduction for five straight quarters.

Revenue rose 0.3 percent from a year earlier to 22.82 trillion won in the second quarter, but net profit plunged 24 percent to 1. 79 trillion won.

Global auto sales fell 2.8 percent to 1,232,943 in the cited period as competition got fiercer amid the weakness of the Japanese yen and other emerging currencies.

The South Korean won depreciated to the U.S. dollar, but the yen and the euro weakened more sharply than the won versus the greenback.

Hyundai decided to pay interim dividend worth about 270 billion won, planning to raise the dividend payout ratio to 15 percent in the short term and to as high as 30 percent over the long run.

For the first six months of this year, Hyundai posted an operating profit of 3.34 trillion won on 43.76 trillion won of revenue. Those were falls of 1.4 percent and 17.1 percent each on a yearly basis.

Hyundai sold 2,415,777 vehicles in the first half, down 3.2 percent from a year earlier. Domestic car sales declined 3 percent to 335,364 units, with overseas auto sales falling 3.2 percent to 2,080,413 units.

The company forecast that hard business conditions would continue in the second half due to sluggish growth of the global economy, uncertainties in Europe and the expected interest rate increase in the United States.

Hyundai planned to roll out new models to overcome the difficulties, keeping its auto sales target of 5.05 million units this year

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

hyundai motors profit tumbles on currencys relative strength hyundai motors profit tumbles on currencys relative strength

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

hyundai motors profit tumbles on currencys relative strength hyundai motors profit tumbles on currencys relative strength

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday