Hyundai Motor Securities reported a net profit of 19.3 billion won for the first quarter of this year on a consolidation basis on the 24th. This reflects an 89.3% increase compared to the same period last year.
During this period, sales amounted to 425.4 billion won, a decrease of 10.2% from the previous year (473.9 billion won), but operating profit surged to 27.1 billion won, an increase of 106.2% compared to the previous year (13.1 billion won).
Hyundai Motor Securities explained that the growth in revenue from the sales and trading (S&T) and retail institutional sectors drove the strong performance this time.
A representative of Hyundai Motor Securities said, "The balanced profitability secured by the 'two wings' of S&T and retail, along with proactive risk management, is the secret to the earnings surprise in the first quarter," adding, "This year, we will actively re-emerge through securing game-changing capabilities and continuous improvement of our business structure."