07/05/2004 13:36
Toyota Motor Corp, Japan’s largest carmaker, is expected to report next Tuesday a record consolidated net profit of 1.06-1.1 trillion yen (£5.5 billion) for the year to March 2004, due to brisk global sales of its vehicles.
Toyota has been forecast to post an operating profit of 1.54-1.6 trillion yen on record revenue of 16.75-17.20 trillion yen by analysts.
The Nihon Keizai Shimbun reported, without citing sources, that Toyota is expected to post a record group net profit of 1.1 trillion yen, up 46 per cent from the previous year, on consolidated group sales of 16.8 trillion yen, up 8 per cent.
Group operating profit is expected to have surged 25 per cent from a year earlier to about 1.59 trillion yen, it said.
Toyota managed to boost sales in all major markets worldwide and slash costs by more than 250 billion yen, offsetting the adverse effect of the yen’s sharp appreciation against the dollar, the newspaper reported.
"Sales in North America increased about 10 per cent, in Europe by 13 per cent and in the rest of the world, excluding China, by 20 per cent. This is more than enough to compensate for exchange rate losses," said Atsushi Kawai, analyst at Mizuho Investers Securities.
Last week, Toyota said for the business year ended in March, its global production under its own brand name increased 9.9 per cent to 6.30 million vehicles. Group output expanded 10.1 per cent to 7.06 million vehicles.
Toyota has been forecast to post an operating profit of 1.54-1.6 trillion yen on record revenue of 16.75-17.20 trillion yen by analysts.
The Nihon Keizai Shimbun reported, without citing sources, that Toyota is expected to post a record group net profit of 1.1 trillion yen, up 46 per cent from the previous year, on consolidated group sales of 16.8 trillion yen, up 8 per cent.
Group operating profit is expected to have surged 25 per cent from a year earlier to about 1.59 trillion yen, it said.
Toyota managed to boost sales in all major markets worldwide and slash costs by more than 250 billion yen, offsetting the adverse effect of the yen’s sharp appreciation against the dollar, the newspaper reported.
"Sales in North America increased about 10 per cent, in Europe by 13 per cent and in the rest of the world, excluding China, by 20 per cent. This is more than enough to compensate for exchange rate losses," said Atsushi Kawai, analyst at Mizuho Investers Securities.
Last week, Toyota said for the business year ended in March, its global production under its own brand name increased 9.9 per cent to 6.30 million vehicles. Group output expanded 10.1 per cent to 7.06 million vehicles.
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