Hyundai profits up 37%

Hyundai Motor today announced that net profit rose 37% in the second quarter of this year as revenue increased.

In a regulatory filing the company said it earned €2.31 trillion in the three months ended June 30. The company earned 1.68 trillion won (€1bn) the same period last year.

Hyundai said sales revenue during the period rose 19% to 20.1 trillion won (€14.88bn) from 16.9 trillion won (€10.3bn) a year earlier.

Hyundai said separately that vehicle sales in the first six months of the year increased 11% to 1.96 million.

Hyundai Motor Co. is South Korea's largest automaker. The Hyundai Motor Group, which includes Kia Motors Corp., is the world's fifth-largest automotive group.