Renault Samsung's 2018 net profit falls 27 pct on weak sales
SEOUL, May 2 (Yonhap) -- Renault Samsung Motors Corp., the South Korean unit of Renault S.A., said Thursday its net profit plunged 27 percent in 2018 from a year earlier on weak sales.
Net profit fell to 222 billion won (US$191 million) last year from the previous year's 305 billion won, the company said in a regulatory filing with the Financial Supervisory Service.
Operating profit also declined 11 percent to 354 billion won from 402 billion won over the cited period. Sales were down 17 percent to 5.59 trillion won from 6.71 trillion won, it said.
For the whole of 2018, its auto sales dropped 18 percent on-year to 227,577 units from 276,808 units due to a lack of new models.
The company's current lineup includes the SM3 compact, the all-electric SM3 Z.E. sedan, the QM3 small SUV, the QM6 midsize SUV, and the SM5, SM6, and SM7 sedans.
France's Renault has an 80 percent stake in Renault Samsung.
kyongae.choi@yna.co.kr
(END)
-
BTS' J-Hope tries long hair in photo book to be released this month
-
Yoon's approval rating slips for 3rd week: poll
-
Opposition leader says he will appear again before prosecutors for questioning
-
(LEAD) Opposition leader says he will appear again before prosecutors for questioning
-
Ruling party, gov't mulling expanding heating bill support for middle class
-
(LEAD) Most people masked up on 1st day of lifting of mandate rules
-
DP hits back at Yoon's office over stock manipulation allegations involving first lady
-
Jay Park's Won Soju to be sold in U.S.
-
Yoon's approval rating slips for 3rd week: poll
-
Opposition leader says he will appear again before prosecutors for questioning
-
(LEAD) Families of crowd crush victims clash with police over installation of memorial altar
-
(2nd LD) U.S. remains committed to using full range of capabilities to defend S. Korea: Blinken
-
Korean American Rep. Young Kim named chair of House Indo-Pacific subcommittee
-
(LEAD) Opposition party takes to streets to protest prosecution probes into leader
-
(LEAD) Nine fishermen missing in boat capsizing off southwestern coast