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Hyundai Posts Profit In Q4, Sees Wholesale Sales Volume Growth In FY20; Stock Up

South Korean automaker Hyundai Motor Group (HYMLF.OB,HYMTF.OB) reported Wednesday that its fourth-quarter net income was 851 billion Korean won, compared to last year's loss of 203 billion won.

Operating income surged 148.2 percent to 1.24 trillion won from 501 billion won a year ago. Operating margin grew to 4.5 percent from 2 percent a year ago.

Revenue for the quarter increased 10.5 percent to 27.87 trillion won from 25.23 trillion won a year ago.

For fiscal 2020, the company projects total wholesale sales of 4.58 million units, up 3.4 percent from fiscal 2019 sales of 4.43 million units.

Domestic sales, including CV, will drop 1.3 percent to 732 thousand units, while overseas sales would grow 4.4 percent to 3.84 million units. The company projects growth in all regions, except Europe and Russia.

In South Korea, Hyundai shares gained around 8.6 percent to 1,27,000 won.

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