Kia-Q1 earnings

Kia Q1 net up 105.3 pct to 2.11 tln won

SEOUL, April 26 (Yonhap) -- Kia Corp. on Wednesday reported its first-quarter net income of 2.11 trillion won (US$1.6 billion), up 105.3 percent from a year earlier.

Operating income for the January-March period was 2.87 trillion won, up 78.9 percent from a year ago, the company said in a regulatory filing. Sales rose 29.1 percent to 23.69 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 1.93 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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