On Friday, Kia Corporation reported that its third-quarter net profit had shot up to 2.22 trillion won (US$1.6 billion), a 384 percent rise from the same period the previous year.
The company revealed in a statement that its operating profit for the July-September period had grown 272.9 percent year-on-year to 2.86 trillion won, while its revenue had increased 10.3 percent to 25.54 trillion won.
The reported earnings were in line with market predictions. According to a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency, analysts had forecasted a net profit of 2.23 trillion won.
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