Suzuki logs ¥30-bn net profit on robust sales

DPA Tokyo | Updated on February 06, 2014 Published on February 06, 2014

Suzuki Motor Corp on Thursday booked a net profit of ¥30.8 billion ($303.7 million) in the October-December quarter, thanks to a falling yen and strong domestic and Asian sales.

Suzuki posted an operating profit of ¥44.4 billion in the quarter, up 66 per cent from ¥26.7 billion in the same period in 2012, while sales were up 18.4 per cent at ¥705.6 billion.

Domestic sales jumped 17.2 per cent to 266,447 vehicles in the October-to-December period while those in Asia grew 16.3 per cent to 257,071, the Japanese carmaker said.

The yen’s decline makes Japanese products more competitive overseas and improves repatriated earnings.

Suzuki lifted its operating profit outlook for the current financial year to ¥180 billion from ¥170 billion projected three months ago.

The carmaker also raised its net profit forecast to ¥105 billion for the year through March 2014 from ¥100 billion in November while sales were predicted at ¥2.85 trillion from ¥2.8 trillion.

Published on February 06, 2014
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