Hyundai Motor's 2Q profit dips due to strong won

Tags: Companies
Hyundai Motor Co says its second-quarter profit fell 7 per cent as the appreciation of South Korean diluted its overseas earnings.

The South Korean automaker said today it earned $2.2 billion for the April-June period, compared with $2.4 billion a year earlier. The figure was in line with expectations.

Operating income dropped 13 per cent to $2.0 billion while sales declined 2 per cent to $22.13 billion.

It sold 2.5 million vehicles during the first six months of this year, up 4 per cent from the previous year.

Despite selling more cars, Hyundai said its bottom line was hit by the sharp rise of the South Korean won.

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