Kia Q2 net profit up 5 pct to 2.95 tln won

Kia Corp. on Friday reported its second-quarter net income of 2.95 trillion won (US$2.1 billion), up 5 percent from a year earlier. Operating income for the April-June period was 3.64 trillion won, up 7.1 percent from a year ago, the company said in a regulatory filing. Sales rose 5 percent to 27.56 trillion won. The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 2.99 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency