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Hyundai posts record Q2 profit of $650 million

Old Jul 23, 2009 | 10:28 AM
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Hyundai posts record Q2 profit of $650 million

http://www.autonews.com/article/2009...307239918/1277

SEOUL (Reuters) -- Hyundai Motor Co. is likely to struggle to replicate its record quarterly profit as the benefits from a weaker won and government stimulus fade but the popularity of its small, cheap vehicles will help it gain share in a weak global market.

Hyundai posted a net profit of 811.9 billion won ($649.9 million) in the second quarter, soundly beating a 456 billion won forecast by 10 analysts in a Reuters poll.

Its operating profit during the quarter ended on June 30 was 657.3 billion won, well above a forecast for a 496.5 billion won profit. The company's operating profit margin was 8 percent, its highest level in 5 years, it said.

Sales in the April-June period rose to 8.08 trillion won from 6.03 trillion won in the prior quarter but fell from 9.11 trillion won a year before.
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