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.
Subscribe in a reader
