[EQUITIES] Heungkuk Securities predicts rise in Hyundai Motor’s Q3 net profit

[THE INVESTOR] Heungkuk Securities forecast Hyundai Motor’s third quarter net profit will rise 24.9 percent to 1.5 trillion won (US$1.34 billion) based on solid sales in China.

Operating profit, however, is expected to fall 6.5 percent to 1.4 trillion won, on rising value of the Korean currency, the brokerage said on Sept. 7.

In the fourth quarter this year, the brokerage predicted the world’s fifth-largest carmaker will post an operating profit of 1.6 trillion won, up 10.3 percent on-year, with net profit rising 14.9 percent to 1.7 trillion won.

In general, the brokerage expects Hyundai Motor’s overseas sales to increase in both the third and fourth quarter.

By Kim Ji-hyun (jemmie@heraldcorp.com)