[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Friday, 27 July 2007, 08:09 GMT 09:09 UK
Domestic sales drive Kia profit
Kia Sorento vehicles
Kia is 39%-owned by Hyundai
South Korean carmaker Kia has reported a quarterly profit - after three quarters of losses - thanks to strong domestic sales of luxury vehicles.

Profits in the three months to the end of June were up 36% on a year ago to 61.4bn won ($67m; 32.8m).

However, while demand for its luxury sedan dragged up profits, the number of vehicles sold was down 1.4%, Kia said.

It parent firm Hyundai said that it had made profits of 611.5bn won - better than analysts had expected.

Kia, South Korea's second-largest carmaker, said that it had benefited from the reopening of a production line at its main Hwaseong plant.

Kia is 39%-owned by Hyundai - South Korea's biggest carmaker.

The stronger won has meant vehicles from both firms are more expensive abroad.


SEE ALSO
Korean cars rev up for Europe
09 Feb 07 |  Business
Strong won hits Kia Motors profit
26 Jan 07 |  Business
Kia president avoids indictment
09 Jun 06 |  Business
Kia Motors to open first US plant
13 Mar 06 |  Business
Kia car workers end strike action
13 Sep 05 |  Business
Carmaker Kia sees profits plummet
29 Jul 05 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific