(MENAFN) Due to a plunge in exports and profitability, South Korea's Hyundai Motor Co. revealed that its net revenue dipped marginally from a year earlier through the April-June period.
In more detail, the carmaker's gross profit touched a total of USD1.55 billion throughout the mentioned timeframe, reflecting a 1.5 percent decrease from the same period last year.
The giant shipped out 271,979 cars, down 14.4pct from the cited period last year, however, sales rose 8.1pct on-year to USD21.5bn, with operating profit growing 0.6 percent to USD1.5bn.
In general, the automaker's abroad sales declined 1.8 percent through the first six months on-year to a little over 2.04 million cars, but local sales progresses 4.4pct to 350,000 vehicles.
All in all, Hyundai projects its global business conditions to further worsen in the second half on the back of growing doubts stemming from the Brexit vote and a prolonged slump in the global economy.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.