Strong Won Cuts Into Hyundai Motors' Bottomline
South Korea's Hyundai Motors posted a 15 percent fall in its quarterly net profit, broadly in line with forecasts, as it was hamstrung by production stoppages and unfavorable currency moves.
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Hyundai Motor, which combined with its affiliate Kia Motors is the world's fifth-biggest automaker, on Thursday reported a 2.1 trillion won ($1.88 billion) net profit for January-March, compared with a consensus forecast of 2 trillion won from Thomson Reuters.
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Hyundai posted an operating profit of 1.9 trillion won on sales of 21.4 trillion won, giving it an operating margin of 8.7 percent, compared with 10.4 percent a year earlier.