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Kia Motors' 2Q profit falls short of expec

 

Kia Motors Corp has reported second-quarter earnings that fell short of expectations due to a loss from equity investment in its affiliates.

Kia said on Friday its April-June net profit fell three per cent from a year earlier to 1.1 trillion won ($A930.46 million). Analysts had forecast earnings of 1.3 trillion won.

South Korea's second-largest carmaker said it sold 704,022 vehicles, putting it on track to meet its annual target of 2.71 million vehicles.

Its operating profit rose 18 per cent to 1.2 trillion won and sales revenue grew eight per cent to 12.6 trillion won.

In the first half of this year, Kia recorded over 16 per cent growth in the United States, Europe and China, which countered a sales drop in South Korea.