SEOUL, South Korea - Kia Motors Corp. reported its third-quarter profit came in below expectations, impacted by a labour strike and weak demand at home.
South Korea's second-biggest carmaker said Friday its July-September quarter's net income rose 28 per cent over a year earlier to 829 billion won ($755 million). Operating income reached 861 billion won, up 4 per cent from a year earlier on revenue of 1.16 trillion won.
Net profit declined 24 per cent from the previous quarter, after a labour strike lowered production by 62,890 cars worth $94 million.
Net profit and operating income came in below market forecasts. Kia's shares fell more than 5 per cent in Seoul.