Suzuki FY2008 Profit Sinks 66%
Suzuki Motor Corporation’s year-end net income plummeted 65.8 percent on a 14.2 percent drop in sales.
Suzuki reported net income of ¥27.42 billion ($285.0 million) on sales of ¥3.004 trillion ($31.24 billion) for the year ended March 31, down from net income of ¥80.25 billion on sales of ¥3.502 trillion in the prior year. The OEM says reduced profits resulted from reduced sales, increased raw material costs and exchange influences.
“We are faced with the unprecedented critical situation,” Suzuki leadership says.
- Submitted by Guido Ebert
Suzuki reported net income of ¥27.42 billion ($285.0 million) on sales of ¥3.004 trillion ($31.24 billion) for the year ended March 31, down from net income of ¥80.25 billion on sales of ¥3.502 trillion in the prior year. The OEM says reduced profits resulted from reduced sales, increased raw material costs and exchange influences.
“We are faced with the unprecedented critical situation,” Suzuki leadership says.
- Submitted by Guido Ebert
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