Hyundai Motor returns to profit in fourth-quarter as SUV sales boost margins

SEOUL (Reuters) – South Korea’s Hyundai Motor Co (KS:) swung to a fourth-quarter profit from a loss a year earlier, helped by brisk sales of sport-utility vehicles such as its Tucson and Palisade models.

Net profit for October-December came in at 839 billion won ($721 million), missing an average estimate of 998 billion profit from 10 analysts, according to Refinitiv I/B/E/S data.

Its operating profit, however, came in at 1.24 trillion won, outperforming analysts’ average estimate of 1.06 trillion won.

In the same quarter a year earlier, Hyundai booked a 129.8 billion won loss, its first quarterly loss in at least eight years as sales slumped in China. It has since closed one of its five Chinese factories.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.