SEOUL: South Korea's Kia Motors said Friday that fourth-quarter net profit rose 4.6 percent year-on-year, helped by the introduction of new models.Net profit for the three months to December 31 reached 631.4 billion won ($567 million), on sales of 6.94 trillion won which were up 21 percent from the previous year.
Operating profit jumped 28 percent from a year earlier to 525.7 billion won."The introduction of new models and the greater percentage of sports utility vehicles and large and middle-sized cars in sales contributed to the increase in sales volume and net profits," the company said in a statement.
It aims to sell 2.43 million vehicles this year, up 14.1 percent from last year, including 1.93 million cars overseas and half-a-million locally.
Kia Motors is South Korea's second largest automaker after its affiliate Hyundai Motor.For the whole of last year, net profit climbed 55 percent to 2.254 trillion won, with operating profit up 47 percent at 1.68 trillion on sales of 23.261 trillion, a 26 percent rise.
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