Kia Motors, South Korea's second-biggest carmaker, posted a double-digit increase in its 2018 earnings due to a low base effect, the company said Friday.
Kia's revenue rose 1.2 percent over the year to 54.2 trillion won (48.3 billion U.S. dollars) in 2018 due to an increased car sale and a higher product price.
Operating profit jumped 74.8 percent to 1.2 trillion won (1.1 billion U.S. dollars) in 2018 as the one-off labor costs disappeared last year. Net income advanced 19.4 percent to 1.2 trillion won (1.1 billion U.S. dollars).
Kia sold a total of 2,809,205 vehicles in 2018 at home and abroad, up 2.4 percent from the previous year. Car sales in the domestic market gained 2 percent to 528,611 units, while its overseas sales increased 2.5 percent to 2,280,594 vehicles.
During the October-December quarter, Kia's revenue climbed 3.6 percent to 13.5 trillion won (12 billion U.S. dollars) compared with the same period of last year.
Operating profit jumped 26.3 percent to 382 billion won (340 million U.S. dollars) in the December quarter, but net income retreated 10 percent to 94.3 billion won (84 million U.S. dollars) on foreign exchange loss.
Kia's revenue rose 1.2 percent over the year to 54.2 trillion won (48.3 billion U.S. dollars) in 2018 due to an increased car sale and a higher product price.
Operating profit jumped 74.8 percent to 1.2 trillion won (1.1 billion U.S. dollars) in 2018 as the one-off labor costs disappeared last year. Net income advanced 19.4 percent to 1.2 trillion won (1.1 billion U.S. dollars).
Kia sold a total of 2,809,205 vehicles in 2018 at home and abroad, up 2.4 percent from the previous year. Car sales in the domestic market gained 2 percent to 528,611 units, while its overseas sales increased 2.5 percent to 2,280,594 vehicles.
During the October-December quarter, Kia's revenue climbed 3.6 percent to 13.5 trillion won (12 billion U.S. dollars) compared with the same period of last year.
Operating profit jumped 26.3 percent to 382 billion won (340 million U.S. dollars) in the December quarter, but net income retreated 10 percent to 94.3 billion won (84 million U.S. dollars) on foreign exchange loss.
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