Strong won hurts Kia’s Q2 earnings

July 27, 2014 6:20 am

Kia Motors has reported a 13.3% year-on-year drop in its second-quarter profit, as a pick-up in sales was offset by a stronger won that hurt exports, AFP has reported. The second-largest South Korean carmaker made a net profit of 1.02trn won ($988m), with unit sales up 4.3% year-on-year. Operating profit plunged 31.7% on-year to 769.7bn won in the three-month period.