Hyundai profit tumbles to 7-year low
Hyundai Motor says its fourth-quarter income sank 39 per cent to the lowest level in seven years.
The South Korean automaker says its October-December net profit was 1 trillion won ($A1.1 billion), compared with 1.6 trillion won a year earlier.
The result missed forecasts. Analysts surveyed by FactSet, a financial data provider, expected 1.5 trillion won of net income.
That was also lower than the previous quarter when it recorded the smallest profit since the first quarter of 2010, when Hyundai adopted international financial reporting standards.
Sales fell 1 percent to 24.5 trillion won ($A28 billion) while operating income declined 33 per cent to 1 trillion won during the quarter.
The company blamed a strike that pushed up costs and lower car sales in the domestic market.
