AM Online

Cautious Mazda in profit by £151m

Mazda made £151m operating profit for the first half of the financial year, an increase of 94 per cent (£73.5m) on the same period in 2002. Turnover was £6.61bn, up £267m on the 2003 figure.

The manufacturer puts this profitability down to stronger sales in Europe, China and Australia, favourable exchange rates and “continued cost reduction efforts”. Full year targets remain unchanged with operating profit expected to reach £350m and sales up six per cent on last year to £13.65bn. These results would mean a third consecutive year of profit and Mazda's best performance in a decade.

“We are seeing the product led growth we predicted and this will be accelerated further with the Mazda3. The road ahead, though, is not getting easier. We must stay focused and achieve our cost reduction and sales targets,” says Mazda president, Hisakazu Imaki. The manufacturer has also launched Mazda 3Year Plus in the UK, offering owners of three- to eight-year-old vehicles 12 months' MoT insurance for £10.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment

Comments

No comments have been made yet.