http://www.kenniffonline.com/profits-warning/
Isuzu Posts Profit But Collapse is below …
Isuzu Motors Ltd. reported record earnings last year the outgoing chairman, Yoshinori Ida. But the incoming president Susumu Hosoi warns that a slowdown in the Japanese domestic market of trucks will reduce earnings this fiscal year.
In the fiscal year ended March 31, profits increased by 18.0 percent to a record 106.98 billion yen, or $ 906,200,000 at current rates. Net income increased 56.7 percent to a record $ 782,700,000.
Revenue rose 5.1 percent to 14.09 billion U.S. dollars. sale of trucks grew 4.5 percent to 646 824.
The benefits increased primarily in cost reduction. In addition, currency gains covered the cost of several product launches. Higher, more profitable sales offset higher raw material prices.
The biggest sales gains occurred in The Middle East, Africa and South America.
For the current fiscal year that began April 1 Isuzu expects its revenue decline of 1.8 percent. Operating profits tumbled 23.6 percent. Net income will slide 36.8 percent, the company said. Worldwide sales of trucks increased 1.4 percent to 656 000. China, Latin America and Europe are more strong gains. Sales in Japan will fall a sharp 24.0 percent.
"I do not see the increase in domestic demand," said Hosoi. Japanese truck sales have risen for several years as new models ordered fleets to meet the more stringent emissions regulations in vans. But sales began declining in the second half of last fiscal year.
Vehicle Sales Isuzu business in North America will soften slightly, to 32,000 from 33,000 in the year just ended. That is about half the expected sales volume in Latin America. [] Source 4wheelsblog.com
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