Hyundai Beats Forecast But Profits Down

South Korean carmaker Hyundai has reported a 38% decline in quarterly net profits in Q308, which was an improvement on the company's forecast. The Q3 net profit of KRW264.8bn (US$187.5mn) surpassed the forecast of KRW174.9bn generated in an analyst poll. However, the result was still a significant drop from the KRW546.9bn recorded in Q208 and the KRW425.5bn of the same quarter in 2007. The decline reflects not only the deteriorating global industry but also the industrial disputes that took place in Q308, when Hyundai lost almost 45,000 units to partial

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