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Hyundai Q1 profits down 39%

Hyundai is set to report a 39 per cent drop in Q1profits – a result of lower domestic sales and higher marketing costs.

The carmaker is expected to post a net profit of 357.9 billion won ($1=KRW1,199.0) for the three months ended March 31, down from KRW586.6 billion a year ago.

But revenue is expected to have risen 3.1 per cent to KRW6.2 trillion in the first quarter.

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