Suzuki forecasts profit rise as demand for fuel-efficient cars increases

16:55, May 10, 2010      

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Suzuki Motor Corp. on Monday forecast a moderate rise in annual operating profit as Japan's fourth largest automaker is well-placed to benefit from a global trend towards smaller, fuel-efficient vehicles and growing demand from India.

For the current fiscal year ending March 31, 2011, Suzuki forecast an operating profit of 80 billion yen (874 million U.S. dollars) -- a 0.8 percent increase from the 79.36 billion yen 856. 29 million U.S. dollars) it made last year.

Additionally the firm said it expects its net profit to rise 3. 8 percent to 30 billion yen (323.7 million U.S. dollars).

Suzuki's operating profit in the final January-March quarter totaled 29.5 billion yen (318.30 million U.S. dollars), compared with a profit of 10.45 billion yen (112.75 million U.S. dollars) booked a year earlier.

Fourth-quarter net profit came to 13.4 billion yen versus a profit of 5.8 billion yen a year ago, on rising sales of its minivehicles including its Kei, Lapin, Splash and Swift models, the automaker said.

As of March Suzuki expanded its capacity in India to a million units a year and a will add a further 250,000 units to its production output from April 2012, the automaker said.



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