S.Korea auto parts maker Mando rises on autonomous vehicles growth

HL Mando

27/07/2018 03:08

** Automobile parts producer Mando Corp  204320.KS  jumps as
much as 9.2 pct, its highest since May 24
    ** Mando said its April-June quarter operating profit rose
20 pct to about 66.3 bln won ($59.1 mln) from a year earlier,
while revenue rose 2.9 pct year-on-year to 1.4 trln won
    ** Mando's results met market expectations, helped by growth
in the Advanced Driver Assistance Systems (ADAS) sector as well
as supplying its parts to Chinese Original Equipment (OE)
market, says Song Sun-jae, an analyst at Hana Financial
Investment
    ** Sales and new orders in ADAS sector are eking its
favourable growth, Song says
    ** Broader market  .KS11  flat as of 0132 GMT 
 $1 = 1,122.6000 won)

 ((joori.roh@thomsonreuters.com;))