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Hyundai Motor reports 5.5% rise in Q3 operating profit, beats forecasts

Reuters

SEOUL, Oct ‌29 (Reuters) - Hyundai Motor reported a 5.5% ​rise ‌in third-quarter operating profit ‌on Thursday, as favourable foreign exchange ‌rates helped offset the impact of partial strikes and weaker sales ⁠of ageing models.

Hyundai, ‌which together ⁠with affiliate Kia Corp ​forms the world's third-biggest automaking group by ​sales, posted an ​operating ‌profit of 2.7 trillion ​won ($2.01 billion)for ⁠the July-September period, ‌compared with ​2.5 ​trillion won a year earlier.

That compared with a 2.4 trillion won forecast ‌by LSEG SmartEstimate, which is weighted ‌toward ​analysts who are more consistently accurate.

($1 = 1,341.7500 won)

(Reporting by Heekyong YangEditing ‌by Ed Davies)