Suzuki’s 2Q Sales Up, Income Down
November 16, 2004
Filed under Features
Japan’s Suzuki Motor Corp. posted net income of 12.12 billion yen ($114.4 million) in its second quarter ended Sept. 30, down from last year’s 12.43 billion yen because of rising costs and a stronger yen eroding overseas earnings, the company said.
Suzuki’s second quarter sales rose 12% to 572 billion yen from almost 511 billion yen during the same period last year. Second-quarter figures were calculated by subtracting first- quarter profit from first-half results.
Suzuki’s first-half net income in the six months ended Sept. 30 rose 15% to 28.7 billion yen while first-half sales rose 7.1% to 1.16 trillion yen.
First-half operating profit, or sales minus the cost of goods sold and expenses, gained 13% to 54.2 billion yen. Current profit, or pretax profit from operations, rose 19% to 54.1 billion yen in the period.
Suzuki is the world’s third-largest maker of motorcycles, after Honda Motor Co. and Yamaha Motor Co. The company’s first-half North American motorcycle sales rose 5.5% to 95,000 units. In Europe, sales fell 1.2% to 80,000 units; fell 23% in Japan to 64,000 units; and surged 34% to 582,000 units in Asia outside of Japan.
First-half auto sales in North America were up 16.2% to 43,000 units.