Suzuki Motor Corporation, Japan’s top minivehicle maker, reported on Tuesday its highest operating profit ever with a 26.9% surge last business year, thanks to robust sales in the fast-growing Asian car market, According to the Reuters news agency.
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Group operating profit for the year that ended in March was 74.2 billion yen, compared with a median forecast of 74.05 billion yen, according to a survey of 15 brokerages by Reuters Research. The company had forecast 70 billion yen and its net profit grew 38.5% to 31.02 billion yen.
Although domestic sales volume fell short of the company’s target last year, Suzuki, also known for its expertise in trimming costs, more than made up for that with strong growth overseas, Reuters said.
For the current business year, Suzuki, owned 20% by General Motors, forecast an operating profit of 85 billion yen and net profit of 35 billion yen, the report added.
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