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Kia Motors H1 profit falls YOY

Kia Motors Corp. said its first-half normalized net income amounted to 1,403.99 South Korean won per share, a decline of 57.4% from 3,298.74 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 562.90 billion won, a decrease of 57.4% from 1.322 trillion won in the year-earlier period.

Total revenue decreased on an annual basis to 26.422 trillion won from 27.099 trillion won, and total operating expenses came to 25.636 trillion won, compared with 25.695 trillion won in the prior-year period.

Reported net income decreased 34.8% on an annual basis to 1.155 trillion won, or 2,880.73 won per share, from 1.770 trillion won, or 4,417.16 won per share.

As of Oct. 9, US$1 was equivalent to 1,143.92 South Korean won.