Suzuki interim profits up on strong sales

Japan's Suzuki Motor Corp has said its net profit in the six months to September rose 2.3 per cent from last year to 11

Japan's Suzuki Motor Corp has said its net profit in the six months to September rose 2.3 per cent from last year to 11.1 billion yen thanks to strong demand for motorbikes and a weak yen.

The company's interim pre-tax profit rose 1.4 per cent to 27.1 billion yen from a year ago, and revenue surged 6.4 per cent to 871 billion yen.

"We posted a gain in revenue as a result of expanded sales, both domestic and abroad, and we have also strengthened our products and their competitiveness," the nation's number three motorcycle maker said in a statement.

"Our profits also increased thanks to foreign exchange rates".

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The weak yen, which averaged at 122 to the dollar over April-September compared with 107 over the same time last year, helped boost Japanese exporters' earnings in yen-terms and made their products more cost-competitive abroad.

Suzuki - 20 per cent owned by United States auto giant General Motors - maintained a full-year forecast from one given in May, with net profit seen at 21 yen, pretax profit at 52 billion yen, on revenue of 1,610 billion yen.

AFP