Suzuki Motor said it increased both in sales and profit in the fiscal first half (1 April to 30 September) “despite continued severe market conditions” and has raised its full year forecasts.
Group consolidated sales rose 11.6% year on year to JPY1,318.8bn thanks to increased automobile sales in Japan and increased motorcycle sales in Asia despite sales falling in North America and Europe.
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Group operating income rose JPY37bn to JPY68.8bn, ordinary income was up JPY35.8bn to JPY74.9bn and net income up JPY17.9bn to JPY30.4bn (US$377m) as the sales increase and cost reductions more than offset exchange influences and expense increases.
Automobile sales increased JPY 140.7bn or 13.7% to JPY1,168.5bn while operating income rose JPY36.1bn (111.8%) to JPY68.4bn as sales rose in Japan and Asia, especially India and Indonesia.
Suzuki has revised its full year net sales forecast up 3.3% to JPY2,550bn, operating income up 26% to JPY100bn, ordinary income up 17.2% to JPY110bn and net income up 21% to JPY35bn.
