Hyundai Mobis 2008 profit jumps 40 pct on weaker won

SEOUL, Feb. 2 (Yonhap) -- Hyundai Mobis Co., South Korea's largest auto-parts
maker, said Monday its net profit jumped 40.3 percent in 2008 thanks to a weaker
local currency.

Hyundai Mobis, an affiliate of Hyundai Motor Co., earned a record 1.09 trillion
won (US$783 million) last year, compared with a profit of 776 billion won a year
earlier, the company said in a regulatory filing.
The won fell 26 percent against the U.S. dollar last year, boosting the value of
overseas sales at Hyundai Mobis.
Operating profit soared 43.9 percent to 1.18 trillion won. Sales rose 10.4
percent to 9.3 trillion won, the company said.
Last month, Hyundai Mobis predicted its sales to fall 4.2 percent this year to
8.9 trillion won amid sluggish demand for new vehicles.
(END)