Hyundai reports big Q4 operating profit

South Korean carmaker Hyundai Motor reported that its operating profit in the fourth quarter of 2007 more than doubled year-on-year to 637 billion won $US670 million ($A768.3 million), amid double-digit sales growth.

The figure, compared with 307 billion won operating profit in the final 2006 quarter, came on revenues of 8.7 trillion won, up 15.2 per cent year-on-year, the company said.

However, net profit in the final quarter fell 31 per cent to 338 billion won, reflecting losses in company investments, Hyundai said.

For the entire year 2007, Hyundai Motor achieved net profit of 1.68 trillion won, a 10.2 per cent rise from the year before. The earnings came on revenues of 30.5 trillion won, up 11.5 per cent from 2006.

Last year Hyundai and its partner firm Kia Motors sold 3.96 million cars. For this year the companies hope to boost sales by 21 per cent to around 4.8 million cars.