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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.

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