A weak yen and cost cutting helped Suzuki make a good profit, post record sales for its latest financial year and forecast record operating profit for this year, the Detroit News said.
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Suzuki group operating profit rose 15.2% to 58.46 billion yen ($US464.4 million) for the 2001-02 financial year helped by favourable currency exchange rates strong sales of motorcycles in the US, the newspaper added.
The Detroit News said that Suzuki group net profit rose 10.6% to 22.39 billion yen while group sales were up 4.2% to a record 1.67 trillion yen.
Suzuki forecast a record group operating profit of 68 billion yen for the 2002-03 financial year and is after an operating profit of 110 billion yen by the end of 2005, the final year of a new three-year business plan announced on Monday, the newspaper said.
The plan calls for two trillion yen in group sales and global two million vehicles sold in 2004-05, the Detroit News added.
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By GlobalDataA 30% cut in costs is the centrepiece of the plan which is not counting on much more help from currency exchange rates, the Detroit News said.
