Hyundai Motor profit falls on home output drop, currencies

South Korea’s Hyundai Motor posted a 15 per cent year-on-year fall in quarterly net profit, broadly in line with market forecasts, as it was hamstrung by weekend production stoppages and unfavourable currency moves.

Hyundai’s second quarterly profit drop in a row puts it under more pressure to expand capacity in the United States and elsewhere to cushion the impact of a weaker Japanese yen versus the South Korean won which lessens its price competitiveness, as well as labour troubles at home.

via Business feed http://www.scmp.com/business/companies/article/1222838/hyundai-motor-profit-falls-home-output-drop-currencies