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Hyundai Mobis net profit edges up in Q4

Jan. 27, 2014 - 19:48 By Korea Herald
Hyundai Mobis Co., South Korea’s largest auto parts maker, said Monday its fourth-quarter net profit edged up 0.5 percent from a year earlier due to an overall increase in sales.

Net profit came to 905.2 billion won ($834.9 million) in the October-December period from 900.3 billion won a year earlier, the company said in a regulatory filing.

The company said sales jumped a solid 11.1 percent to 9.19 trillion won and its operating profit gained 5.2 percent to 870.7 billion won. The company’s sales figures for the fourth quarter of 2012 stood at 8.28 trillion won, with operating profit hitting 827.7 billion won.

“Rise in sales of vehicles that use Hyundai Mobis parts helped numbers,” the company said in a press release.

For the whole of 2013, net profits dipped 4.1 percent to 3.39 trillion won from 3.54 trillion won tallied in 2012, with operating profit moving up 0.6 percent on-year to 2.92 trillion won.

Sales earnings topped 34.19 trillion won for an 11.1 percent increase from 30.78 trillion won reported for the year before. (Yonhap)