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Mazda profits up 77.4%

Mazda's annual operating profit for 2002 jumped 77.4 per cent to £268.4m, mainly as a result of cost savings and enhanced European sales. And the company has forecast a record income for 2003/2004 of £43.1bn – up 28.3 per cent.

Mazda, Japan's fifth largest carmaker, is following a five-year turnaround plan and is counting on models like the Mazda6 and Mazda2/Demio subcompact to boost global sales and put the company on a firm recovery track.

Mazda's US marketplace is more difficult, where sales of the Mazda6 have been sluggish.

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