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Hyundai Motor 3Q profit rises as lack of labour unrest boosts income

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Hyundai Motor says its third-quarter net profit rose 44.8 per cent.

The South Korean automaker says it earned US$464.6 million, up from US$320.4 million in the year-ago period.

The result was better than analyst estimates of a net profit of US$356.9 million.

Sales during the quarter rose 19.6 per cent to US$7.69 billion for what Hyundai says is the largest-ever sales figure for the third quarter.

The world's sixth-largest automaker didn't suffer any production losses from labour unrest, as it did in the same quarter in 2006.

Hyundai experienced a major strike last year beginning in late June and running through much of July, causing production losses that hurt sales and profit.

The automaker also reached a new wage deal last month and averted a walkout over annual salary negotiations for the first time in a decade.

The company's union has walked off the job every year but one since it was founded in 1987.

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Hyundai Motor 3Q profit rises as lack of labour unrest boosts income
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