Toyota Motor appears set to report a 46% jump in group net profit to 1.1 trillion yen ($US10.12 billion) for the year just ended, helped by strong sales in the US and European markets, a Japanese newspaper said.


According to Reuters, the Nihon Keizai Shimbun said consolidated sales by the carmaker increased by 8% to $153.22 billion for the year to March 2004.


Strong sales of Camry cars helped push sales in the key US market by 9% to a record 1.92 million units while sales in Europe topped 800,000 units, helped by the introduction of models such as the Avensis sedan, the paper reportedly said.


In Japan, Toyota sold 1.73 million vehicles, up 1%, the report noted.


The business daily said Toyota managed to offset the damaging impact of a higher yen through cost cuts that helped save $2.28 billion during the year, according to Reuters.