JAPAN: Like rivals, Mazda cautions on next-year profits
Mazda's fiscal year 2007/8 operating profit rose 2% to JPY162.1bn on consolidated revenue up 7% year-on-year to JPY3,475.8bn yen. Net income was up 25% to a record JPY91.8bn and global retail volume rose almost 5% to 1,363,000 units.
Excluding the impact from discontinued Mazda brand vehicle production in Hainan (China), global retail volumes increased by 11%, the automaker noted.
For FY2008/9, as product-driven growth for the company continues, Mazda is projecting a global retail sales increase of 9% to 1.48m units but, in line with Honda and Mazda is expecting a profits fall.
"Considering recent fluctuations in exchange rates and escalating prices of raw materials, operating profit is expected to decrease 29% to JPY115.0bn and net income to reach JPY70.0bn, down 24%," the automaker cautioned on Friday.