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Mazda Quarterly Sales Up, Profits Down
Mazda Motor Corp. hiked revenue 12% to 840 billion yen ($7.1 billion) in January-March 2015 as vehicle deliveries rose 4% to 394,000 units.
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Mazda Motor Corp. hiked revenue 12% to 840 billion yen ($7.1 billion) in January-March 2015 as vehicle deliveries rose 4% to 394,000 units.
But unfavorable exchange rates, costly plant launches and sales incentives cut fourth-quarter operating profit 11% to 51 billion yen ($427 million). Net earnings for the period plunged 53% to 27 billion yen ($229 million).
Still, Mazda posted record earnings for the fiscal year ended March 31. Operating profit jumped 11% to 203 billion yen ($1.7 billion), and net income climbed 17% to 159 billion yen ($1.3 billion). Revenue grew 13% to 3 trillion yen ($25.5 billion) as vehicle sales advanced 5% to a record 1.40 million units.
Mazda expects revenue in the current fiscal year will grow 7% to 3.3 trillion yen ($27.3 billion) as sales expand 7% to 1.49 million vehicles worldwide. But the company says taxes will cut its net income for the year 12% to 140 billion ($1.2 billion).
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