Mazda earnings jump on cost cuts and brisk sales

TOKYO: Mazda Motor Corp confirmed yesterday a 77% jump in its annual operating profit, thanks to hefty cost cuts and healthy European sales, and forecast its highest income in a decade for this business year. 

Reporting audited results, Japan’s fifth largest motor vehicle maker said its group operating profit for the year ended March 31 came to 50.66 billion yen (US$432.7mil), in line with preliminary figures announced last month. Sales grew 13% to 2.36 trillion yen.