Hyundai's profit falls 5.5% in the fourth quarter

The net profit of the South Korean Hyundai Automotive Group shrank by 5.5% in the fourth quarter. The amount reached 1.893 billion won (US $ 1.8 billion), from 2.003 billion won a year earlier.
The result was lower than the projection of a net profit of 2 trillion won, according to a survey of 12 analysts.
Unfavorable currency movements and extraordinary costs with a statement that the company exceeded the fuel economy information for some cars in recent marketing campaigns United States pressed the last line of the balance sheet.
"The slow domestic sales over the past year, the appreciation of the won and the Yen's weakness pushed quarterly results," said the company in a statement accompanying the results.
Still, Hyndai's sales rose 11% in the quarter, compared to the previous year, to 22.719 trillion won. Operating profit, on the other hand, decreased by 12%, to 1.832 trillion won, as compared to the same period in 2011.