Mazda Motor Corporation has said it is on track to achieve its best-ever operating profit for fiscal year ending March 31, 2005.

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For the nine-month period April through December 2004, Mazda sold 810,000 vehicles, up 3% from year-ago levels, helping revenues to 2.01 trillion yen, a year-to-date increase of 8.2% over FY2003.


Year-to-date operating profit was 64.1 billion yen and net income was 26.1 billion yen.


For the third quarter, sales were 280,000 units and revenues 685.6 billion yen. Consolidated operating profit in the third quarter was 20.6 billion yen, while net income was 7.4 billion yen.


Year-on-year profit comparisons were not provided, as Mazda has not disclosed quarterly profit levels in prior years.

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Fiscal year-to-date retail sales in Japan were up slightly on last year to 196,000 units. Retail sales in the United States for the period were 200,000 units, a decrease of 4.1% year-on-year, primarily due to an aging truck and SUV lineup.


Results in Europe showed continued strength, with retail sales up by 25,000 units for a fiscal year-to-date total of 201,000 units, a 14.3% increase from year-ago levels.


In other key markets, sales in the first nine months of FY2004 were positive. In Canada, sales were up 9.9% while 73,000 units were sold in China, an increase of 5.2%.


Mazda is now projecting a net loss of 30,000 units due to a plant fire late last year and expects wholesale unit and sales revenues for FY2004 to be 1.1 million units and 2.66 trillion yen, down 30,000 units and 50 billion yen from previous projections.


Profit outlook for FY2004, however, remains unchanged, reflecting progress in reduction of fixed costs, more favourable exchange rates and insurance coverage. Financial projections for FY2004 include sales revenue of 2,660 billion yen, operating profit of 78.0 billion yen, ordinary profit of 74.0 billion yen and net income of 37.0 billion yen.