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Posts Tagged ‘kia earnings’

Honda Profits Rise in Spite of China Problems

Mazda Back in black for first time in 5 years, but Kia earnings hurt by labor dispute.

by on Apr.26, 2013

Strong U.S. demand for the new Honda Accord helped buoy the maker's earnings.

Despite slumping sales in China, the world’s largest automotive market, Honda Motor Co. managed to eke out a 6% increase in earnings for the January-March quarter – largely because the year-ago numbers were still impacted by production cuts from a series of natural disasters.

The maker also benefited from the weakening yen, and Honda CEO Takanobu Ito said he anticipates doing even better in the months ahead as exchange rates shift, reducing the penalty on Japanese-made goods.

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That was also good news for smaller rival Mazda which crept back into the black for the first time in five years — but in Korea, Kia reported Friday that a bitter labor dispute resulted in a big drop in its earnings.

Honda earned 75.7 billion yen, or $765 million, during the final quarter of its fiscal year, compared with 71.5 billion during the same period in 2012. For the full fiscal year, which ended on March 31, earnings soared 73.6% to 367.15 billion yen, or $3.7 billion. Its operating profit, meanwhile, climbed to 544.8 billion yen, up 135.5%.


Kia Reports Big Bump In Earnings

Hyundai’s “weak” sibling defies critics.

by on Nov.01, 2010

The launch of the new Optima is expected to drive a strong performance for Kia during the fourth quarter and beyond.

Defying critics, the once-bankrupt Kia has posted a 66% increase in earnings for the third quarter, and with strong global demand and some critical new product in the pipeline the Korean carmaker is looking at further gains in the final three months of the year, according to forecasts.

Net income for the quarter ending September 30 soared to 666.6 billion won, or $593 million, compared with 402 billion during the third quarter of 2009, the maker reports.  Significantly, that was more than 30% better than the 504 billion won forecast by a consensus of industry analysts compiled by the Bloomberg news service.

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Revenues rose by 26%, to 5.69 trillion won reflecting a 24% global increase in unit sales.  Notably, in the Korean home market, Kia volumes were up 25%, even as the maker’s “stronger” parent brand, Hyundai, reported a decline of 12%.

The latest and projected numbers underscore the dramatic turnaround underway at Kia, which was taken under the Hyundai wing when it nearly collapsed in 1999, during the Asian economic meltdown.