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Kia Motors Q4 net drops 1.2 pct

All News 10:04 January 27, 2016

SEOUL, Jan. 27 (Yonhap) -- Kia Motors Corp., South Korea's No. 2 automaker, said Wednesday that its fourth-quarter net profits dropped 1.2 percent from a year earlier, affected in part by losses from equity ties with affiliates.

Its net profits reached 430.8 billion won (US$359.5 million) during the October-December period compared with a profit of 436.2 billion won a year earlier, the company said in a regulatory filing.

Operating income grew 2.8 percent on-year to 514.4 billion won over the cited period and sales also rose 9.3 percent to 12.8 trillion won, it said.

For 2015, Kia Motors reported a net profit of 2.63 trillion won, down 12.1 percent from a year earlier.


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