AGL 42.00 Increased By ▲ 3.46 (8.98%)
AIRLINK 129.60 Increased By ▲ 0.10 (0.08%)
BOP 6.07 Increased By ▲ 0.46 (8.2%)
CNERGY 4.06 Increased By ▲ 0.20 (5.18%)
DCL 8.63 Decreased By ▼ -0.10 (-1.15%)
DFML 41.00 Decreased By ▼ -0.76 (-1.82%)
DGKC 88.40 Increased By ▲ 0.10 (0.11%)
FCCL 35.01 Increased By ▲ 0.01 (0.03%)
FFBL 66.45 Decreased By ▼ -0.90 (-1.34%)
FFL 10.72 Increased By ▲ 0.11 (1.04%)
HUBC 109.55 Increased By ▲ 0.79 (0.73%)
HUMNL 14.95 Increased By ▲ 0.29 (1.98%)
KEL 4.74 Decreased By ▼ -0.01 (-0.21%)
KOSM 7.36 Increased By ▲ 0.41 (5.9%)
MLCF 42.80 Increased By ▲ 1.15 (2.76%)
NBP 61.40 Increased By ▲ 1.80 (3.02%)
OGDC 180.99 Decreased By ▼ -2.01 (-1.1%)
PAEL 25.99 Decreased By ▼ -0.26 (-0.99%)
PIBTL 6.04 Increased By ▲ 0.07 (1.17%)
PPL 146.69 Decreased By ▼ -0.01 (-0.01%)
PRL 24.07 Increased By ▲ 0.46 (1.95%)
PTC 16.39 Decreased By ▼ -0.17 (-1.03%)
SEARL 70.80 Increased By ▲ 2.50 (3.66%)
TELE 7.25 Increased By ▲ 0.02 (0.28%)
TOMCL 36.51 Increased By ▲ 0.56 (1.56%)
TPLP 7.98 Increased By ▲ 0.13 (1.66%)
TREET 15.30 Increased By ▲ 1.10 (7.75%)
TRG 50.80 Increased By ▲ 0.35 (0.69%)
UNITY 27.40 Increased By ▲ 0.65 (2.43%)
WTL 1.25 Increased By ▲ 0.04 (3.31%)
BR100 9,868 Increased By 61.9 (0.63%)
BR30 29,870 Increased By 192.4 (0.65%)
KSE100 92,777 Increased By 472.6 (0.51%)
KSE30 28,934 Increased By 94.2 (0.33%)

Japan's Mazda Motor Corp said on October 30 it beat expectations in the first half on strong car sales in China and Europe but it cut its full-year profit estimates as the economic crisis clouds the picture.
Japan's fifth-largest automaker, whose biggest shareholder is struggling US automaker Ford Motor Co, said it was hit like other Japanese companies by a soaring yen and high raw material costs.
The Hiroshima-based company said that its net profit rose two percent year-on-year to 29.5 billion yen (284.7 million dollars) in the six months through September. Operating profit slipped 17 percent to 60.7 billion yen, although it was more than one-fifth higher than what Mazda had anticipated.
Mazda sold six percent more vehicles around the world in the half, although sales revenue was down five percent at 1.58 trillion yen due to a stronger yen and a change in accounting standards.
Sales soared by more than half in China and 17 percent in Europe thanks to a new line-up. Sales slipped in the United States, although Mazda's market share in the slowing market improved thanks to the popularity of its small cars. Mazda "beat our initial first-half operating profit forecast, announced at the beginning of the fiscal year," said David Friedman, the chief financial officer.
"However, we expect the third quarter and onward to present a challenging business environment," he said in a statement.
Mazda said it now expected to earn 50 billion yen in net profit for the year, a reduction from an earlier 70 billion yen forecast and down 46 percent from the previous year. It also cut its operating profit forecast to 90 billion yen from 115.0 billion yen. But it left its revenue estimate unchanged at three trillion yen.

Copyright Agence France-Presse, 2008

Comments

Comments are closed.