[Infostock Daily= Reporter An Hoe Hyun] Hyundai Motor Securities announced on the 22nd that sales in the third quarter of this year rose 28.5% year-on-year to 205.9 billion and operating profit rose 188.8% to 54.4 billion won.
Operating profit exceeded 41.4 billion won in the second quarter of last year, the largest quarterly figure ever. Until the third quarter of this year, cumulative operating profit reached 128.4 billion won, exceeding 100 billion won for the first time.
Revenue from both the IB and retail sectors surged.
In the IB sector, net operating profit rose more than 130% to 54 billion won, despite concerns over a reduction in the market due to a contraction in the overseas real estate investment market and stricter real estate market regulations caused by the outbreak of COVID-19.
The retail sector also posted net operating profit of 28.9 billion won, up more than 160% from a year earlier, due to increased profits from consignment sales amid increased transaction payments.
Reporter An Hoe Hyun ahh@infostock.co.kr
