South Korean car maker Hyundai reported Thursday
record profits of 9.1 trillion won (8.5 billion dollars) in 2012
despite an unexpected drop in the last quarter.
Year on year net income rose 11.7 per cent, the company said,
while revenue rose 8.6 per cent to 84.5 trillion won.
Hyundai, which with sister company Kia Motors ranks as the fifth
largest carmaker globally, aims to deliver 4.66 million units in
2013, or 7.41 million including Kia Motors cars. Hyundai alone in
2012 delivered 4.4 million vehicles.
In the fourth quarter, Hyundai profits dipped 5.5 per cent to
around 1.9 trillion won, a fall that exceeded analysts' expectations.
The drop was attributed primarily to the strong appreciation of the
won.
Hyundai CEO Chung Mong Koo in early January warned company
employees of possible worsening business conditions, due mainly to
the eurozone debt crisis as well as the weakening world economy.
