Hyundai Mobis Q2 profit jumps 35.9 pct

SEOUL, July 28 (Yonhap) -- South Korea's top auto-parts maker, Hyundai Mobis Co.,
said Tuesday its net profit jumped 35.9 percent in the second quarter from a year
ago thanks to a soft local currency and higher sales in emerging markets.
Net profit stood at 429.5 billion won (US$346.1 million) in the April-June
period, compared with 316.1 billion won for the same period a year earlier, the
company said in a regulatory filing.
But sales fell 2.7 percent to 2.5 trillion won amid the worldwide economic
crisis, which has dampened demand for new vehicles. Operating profit gained 4.3
percent to 364.1 billion won.
"While sales declined from a year ago, operating profit rose on the effect of
foreign exchange rates and achievements in emerging markets," said an official at
Hyundai Mobis.
Hyundai Mobis is an affiliate of Hyundai Motor Co., South Korea's largest carmaker.
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