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| Aug 7, 2006 |
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Hyundai´s 2Q Net Rises 21.3 Pct Q-o-Q |
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• Richer product mix lifts margins
• Won depreciation vs US$, Euro sinks y-o-y net by 36.9 pct
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| (Seoul, Korea) Hyundai Motor Co. reported today 387 billion won in second quarter net profits, a 21.3 pct improvement over the first quarter. Sales over the period rose by 2.1 pct to 7.003 trillion won thanks to strong sales of the new Santa Fe SUV and Grandeur (Azera) premium sedan which enriched the product mix and lifted margins despite a 1.4 pct drop in unit sales in the quarter to 412,630. |
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| The appreciation of the won against major trading currencies contributed to a further erosion of margins and profits.
Hyundai posted a gross profit of 1.345 trillion won in the second quarter, a 3.5 pct gain q-o-q while the operating profit rose 22.1 pct to 409 billion won.
First half sales volume was down 1.3 pct y-o-y to 831,000 units. Korean sales gained 7.7 pct y-o-y but exports declined 5.4 percent to 551,000 units. This decline, however, was offset Hyundai´s overseas manufacturing subsidiaries in India, China and the United States which picked up their sales pace. |
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| First half sales revenues rose 5.7 percent y-o-y to 13.864 trillion won. Operating profit dropped 4.7 percent to 744 billion won while the net profit was down 37.1 percent to 706 billion won over the same period. |
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