Hyundai Mobis posts 37 pct rise in Q1 profit

SEOUL, April 27 (Yonhap) -- Hyundai Mobis Co., South Korea's largest auto-parts
maker, said Monday its first-quarter net profit rose 36.9 percent from a year ago
thanks to a weaker won.

Hyundai Mobis earned 294.4 billion won (US$219 million) in the January-March
period, compared with a profit of 215.1 billion won a year earlier, the company
said in a regulatory filing.
Sales, however, fell 13.2 percent to 2.05 trillion won on plunging demand while
operating profit gained 33.4 percent to 352.4 billion won, it said.
A soft won means Hyundai Mobis gets more foreign-exchange proceeds when the
company converts profits from overseas sales into the local currency.
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