SEOUL (Reuters) – South Korea’s Hyundai Motor Co on Thursday reported a 212% increase in fourth-quarter profit on strong demand for its high-margin sport-utility vehicles and a weak won.
Hyundai Motor reported a net profit of 1.7 trillion won ($1.38 billion) for the October-December period versus a profit of 547 billion won a year earlier, when the automaker booked some one-off costs.
That compared with a Refinitiv SmartEstimate for fourth-quarter profit at 2.5 trillion won drawn from 18 analysts.
($1 = 1,230.8600 won)
(Reporting by Heekyong Yang and Joyce Lee; Editing by Tom Hogue)