HAMAMATSU (dpa-AFX) - Japanese auto major Suzuki Motor Corporation (SZKMF.PK) on Monday reported a rise in earnings for the fiscal 2022, amidst an increase in sales, supported by exchange rate effects and an improvement in volume.
For the 12-month period to March 31, 2023, the vehicle company reported a profit attributable to owners of parent of 221.107 billion yen or 455.19 yen per share, higher than 160.345 billion yen or 330.18 yen per share of the fiscal 2021.
Operating profit surged to 350.551 billion yen from previous year's 191.460 billion yen.
Pre-tax income stood at 381.036 billion yen as against 274.278 billion yen a year ago.
Ordinary profit was at 382.807 billion yen, compared with 262.917 billion yen of 2021.
Net sales moved up to 4.641 trillion yen from 3.568 billion yen of last year.
Looking ahead, for the 12-month period to March 31, 2024 or fiscal 2023, the company expects a decline in earnings, citing factors such as increased growth investment to realize its growth strategy, as well as the strong yen and a rise in raw material prices.
For the 12-month period, Suzuki expects to report profit attributable to owners of parent of 190 billion yen or 393.16 yen per share, with an operating income of 330 billion yen.
However, owing to increase in volume, the automobile company projects a rise in sales at 4.900 trillion yen, for the fiscal 2023.
For the fiscal 2023, Suzuki expects to pay an annual dividend of 100 yen per share, unchanged from the fiscal 2022.
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