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Japan's Mazda swings back to $341 million profit for April-December period

Published on Feb 6, 2013 3:57 PM
 
 The Mazda MDX Prototype is introduced at the 2013 North American International Auto Show in Detroit, Michigan, January 14, 2013. Japanese car giant Mazda on Wednesday said it swung back to a profit in the nine months to December as it boosted its full-year earnings forecast. -- PHOTO: AFP

TOKYO (AFP) - Japanese car giant Mazda on Wednesday said it swung back to a profit in the nine months to December as it boosted its full-year earnings forecast.

Japan's fifth-biggest automaker logged a net profit of 25.6 billion yen (S338 million) for the April-December period, reversing its net loss of 112.8 billion yen a year earlier. Sales rose 8.5 per cent to 1.54 trillion yen, it said.

It credited the results to a bounce in sales and cost-cutting after suffering a double punch from a strong yen and falling demand in key markets during the corresponding period in 2011, when manufacturers were also hit by effects of Japan's quake-tsunami disaster.

In China, Mazda sold 129,000 vehicles for the nine-month period, down 21.5 per cent from a year earlier, "but sales are on a recovery trend," it said, echoing similar comments from Toyota, Japan's biggest automaker.

 
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