Mazda to report jump in operating profit
Reuters / October 17, 2003
TOKYO -- Mazda Motor Corp., the smallest of Japan's top five automakers, will likely report a 70 percent jump in first-half operating profit year-on-year thanks to brisk sales in Europe, the Nihon Keizai newspaper said on Friday.
Mazda, owned one-third by Ford Motor Co., is expected to report about 25 billion yen ($227.6 million) in operating profit for the six months to September, on revenues of 1.22 billion yen, up 5 percent, the paper said.
A Mazda spokesman declined to comment on the report.
European sales appear to have risen 33 percent, the paper said, aided by strong sales of Mazda6/Atenza, a product developed under an entirely new product and design strategy to put the company on a firm recovery track.
Domestic sales seem to have increased 6 percent, although U.S. sales were down 10 percent, the paper said.
Mazda, in the midst of a five-year turnaround plan, said in July revenues rose 10 percent in the April-June quarter, citing strong sales in Europe.
The company is due to reveal its half-year business results on Nov. 6.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.
My next Ford.....