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Mazda sees global operating profits soar by 238%

Mazda Motor Corporation has posted its highest ever operating profit for the year ended March 31, 2014 with a 238% surge year-on-year to £1.1 billion.

The fourth-quarter return on sales reached 7.6% compared to 6.8% for the full year and 2.4% for the prior year.

The Japanese said the gains were due to ongoing structural reforms at the business and its new generation of Skyactiv models. Worldwide sales volumes hit 1.33 million units in 2013, an 8% gain.

In Europe, unit sales were up 25% to 163,000, also gaining steam in the second half. Among the major European markets, the UK outperformed with 35% growth to 35,000 units, and Germany, Europe's largest market, saw a 20% gain to 47,000.

Revenue in Europe rose to £3 billion, up 28%.

The company forecasts a rise in full-year operating profits £1.3bn and net income of £980m for 2014. Global revenue, meanwhile, is pegged at £18bn, up almost 8% year-on-year.

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