Mazda posts record net profits
Japan's Mazda Motor Corp. said Friday its annual net profit rose 24.5 percent to a record high amid brisk sales in North America and Europe.
By Agencies |
TOKYO,: Japan's Mazda Motor Corp. said Friday its annual net profit rose 24.5 percent to a record high amid brisk sales in North America and Europe.
Japan's fifth-largest automaker, an affiliate of US giant Ford Motor, posted net earnings of 91.84 billion yen (882 million dollars) for the year to March as revenue rose 7.0 percent to an all-time high 3.48 trillion yen.
Operating profit edged up 2.0 percent to a best-ever 162.15 billion yen. The company sold 1.363 million vehicles worldwide, up 4.7 percent from the previous year.
It said it got a boost from the launch of new vehicles including the Mazda2 -- also known as the Demio -- in Japan, Europe, Australia and China.
But Mazda, based in the western city of Hiroshima, forecast lower profit in the current financial year to March due to the global credit crunch which has sent the yen higher against major currencies, hitting overseas earnings.
Revenue is expected to decrease by 13.7 percent to 3.0 trillion yen. Operating profit is expected to fall 29.1 percent to 115 billion yen on escalating prices of raw materials and foreign exchange volatility. Net profit is expected to drop 23.8 percent to 70 billion yen.
Japan's fifth-largest automaker, an affiliate of US giant Ford Motor, posted net earnings of 91.84 billion yen (882 million dollars) for the year to March as revenue rose 7.0 percent to an all-time high 3.48 trillion yen.
Operating profit edged up 2.0 percent to a best-ever 162.15 billion yen. The company sold 1.363 million vehicles worldwide, up 4.7 percent from the previous year.
It said it got a boost from the launch of new vehicles including the Mazda2 -- also known as the Demio -- in Japan, Europe, Australia and China.
But Mazda, based in the western city of Hiroshima, forecast lower profit in the current financial year to March due to the global credit crunch which has sent the yen higher against major currencies, hitting overseas earnings.
Revenue is expected to decrease by 13.7 percent to 3.0 trillion yen. Operating profit is expected to fall 29.1 percent to 115 billion yen on escalating prices of raw materials and foreign exchange volatility. Net profit is expected to drop 23.8 percent to 70 billion yen.
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Mazda expects to sell 1.48 million units worldwide this financial year, up 8.6 percent from the previous year, thanks to the launch of new models and an anticipated 78 percent surge in sales in China. Download
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