Mazda Motor 9-month Profit Plunges, Sales Up; Lifts FY19 Outlook

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Mazda Motor Corp. (MZDAF.PK) Wednesday reported that its nine-month net income attributable to owners of the parent amounted to 37.0 billion Japanese yen, a decrease of 56.4 % from the prior year's 84.91 billion yen. Earnings per share were 58.81 yen, down from 139.77 yen a year ago.

Operating income fell 44.4 percent to 59.6 billion yen from 107.12 billion yen last year, resulting from the increase in marketing expense due to the intensifying competition and exchange rate impact, etc. which offset increased sales and cost improvement.

Net sales amounted to 2.62 trillion yen, an increase of 2.9 percent from 2.55 trillion yen a year ago.

Looking ahead, for fiscal 2019, the company now expects attributable net income of 55 billion yen, earnings per share of 87.33 yen, operating income of 80 billion yen, and net sales of 3.55 trillion yen.

Previously, the company expected attributable net income of 50.0 billion yen, earnings per share of 79.40 yen, operating income of 70.0 billion yen, and net sales of 3.53 trillion yen.