Mitsubishi Motors has posted increased sales and profits for the first half of its 2013 fiscal year to 31 March, 2014 and revised full year sales down but profits up.
Sales of JPY929bn were up 8% year on year. But operating income soared 65% to JPY50.8bn as increases in sales expenses were well offset by “steadily progressing” reductions in material and other costs plus favourable foreign exchange rates.
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Ordinary income rose 93% to JPY61.0bn and net income rose 55% to JPY46.7bn.
Global retail sales volume rose 4% to 499,000 units with a 5% rise in Japan to 66,000 units, 3% hike in the US to 45,000 units and 1% rise in Europe to 91,000 units.
Asia and other regions saw a 6% rise to 297,000 units.
Forecast full year sales volume has been dropped 58,000 to 1,111,000 units with net sales off JPY140bn to JPY2,130.0bn yen.
Operating income is unchanged at JPY100bn but ordinary income is expected to be JPY10bn up to JPY100.0bn and net income up JPY20bn to JPY70.0bn.
