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Wednesday May 9, 2:11 PMDaewoo Motor Sales's Q1 Earnings More Than QuadrupleSEOUL, May 9 Asia Pulse - South Korean car retailer Daewoo Motor Sales Corp. (KSE:004550) said Wednesday its first-quarter earnings more than quadrupled from a year earlier on the back of increased sales.Net income reached 9.79 billion won in the first three months of the year, compared with 2.35 billion won in profit a year earlier, the company said in a regulatory filing. Sales increased 27 per cent to 790 billion won, and operating income more than tripled to 14.5 billion won, it said. Shares of Daewoo Motor Sales were trading at 35,100 won as of 2:20 p.m., up 1,300 won or 3.7 per cent. Daewoo Motor Sales, a former unit of the now-defunct Daewoo Group, mainly sells vehicles produced by GM Daewoo Auto & Technology Co. and Ssangyong Motor Co., South Korea's No. 3 and No. 4 automakers. (Yonhap) |
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