Mazda Motor Corporation more than quadrupled its net profit to JPY25bn (EUR188m) in the first half of fiscal 2013/4.

Operating profits rose 545% to JPY74bn (EUR556m) while ordinary income increased to JPY36.3bn. Sales rose 22.6% to JPY1,254bn (EUR9.43bn).

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Global vehicle sales rose 3% to 631,000 units.

North America sales were up 9.5% to 199,000 units while Europe sales rose 13.5% to 97,000 units.

But, in China, sales fell 12.2% which the automaker blamed on a slowdown in the Chinese economy and to increasing competition.

The sales forecast for the full fiscal year remains 1.34m units but continuing cost cuts and a weakening of the yen means a hike in the financial forecast. The company now expects an increase its global sales of 20.2% to an estimated JPY2.65bn. Second half ordinary income is pegged at JPY123bn and net profit JPY 100bn Yen (EUR752m).

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