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Mazda’s Operating Profit More Than Doubles
Mazda Motor Corp. says favorable exchange rates helped its operating profit to more than double in the fiscal third quarter that ended Dec. 31.
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Mazda Motor Corp. says favorable exchange rates helped its operating profit to more than double in the fiscal third quarter that ended Dec. 31.
Net income for the period fell 10% to 21.9 billion yen ($200 million). But pretax earnings jumped to 30.6 billion yen ($280 million) from 13.6 billion yen a year earlier. Gains from the weak yen climbed 33% to 9.4 billion yen ($86 million).
Quarterly unit sales rose 4% to 404,000 units, and revenue grew 11% to 682 billion yen ($6.2 billion). Mazda says a 12% drop in vehicle sales in the US. in October-December was offset by gains in Japan, southeast Asia and South America.
Mazda raised its outlook for the full fiscal year ending March 31. The company now expects its year-on-year sales will rise 9% to 3.5 trillion yen, operating income will climb 19% to 150 billion yen and adjusted net income will grow 7% to 100 billion yen.
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