SEOUL (dpa-AFX) - Kia Corp. (KIMTF.PK, 000270.KS), a South Korean automaker, reported weak profit in its fourth quarter, despite higher sales.
In South Korea, Kia shares were gaining around 2.5 percent, trading at 153,500.00 won.
In the quarter, net income attributable to shareholders of parent company dropped 15.4 percent to 1.47 trillion Korean won from last year's 1.74 trillion won.
Pre-tax profit from continuing operation was 2.11 trillion won, down 13.6 percent from 2.44 trillion won. Operating income fell 32.2 percent to 1.84 trillion won from prior year's 2.72 trillion won.
Sales for the fourth quarter were 28.09 trillion won, up 3.5 percent from 27.15 trillion won a year ago.
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