Automobiles and related providers
By Daniel Cancian
Date: Tuesday 04 Aug 2015
LONDON (ShareCast) - (ShareCast News) - Japanese car maker Toyota posted a record first quarter profit, as a weakening yen offset sluggish demand in Japan and Southeast Asia.
In the three months to end of June, the group posted a 10% year-on-year profit to 646.39bn yen (£3.35bn), ahead of analysts' expectations of a 607.5bn yen figure.
Operating profit rose 9.1% to 756bn yen, while revenue was 9.3% higher than in the corresponding period a year ago.
Sales growth remained sedate as the car maker maintained a self-imposed cap on production capacity in a bid to prevent quality problems, having only lifted the three-year freeze in April for its plants in Mexico and China.
In China, the world's biggest car market, sales suffered from intensifying price competition and declined 0.1% compared to the previous three months, which contributed to a 0.4% slip in global sales to 2.502m vehicles.
"Our April-June [China] sales volume growth was strong, but we can't be optimistic when it comes to profits," Tetsuya Otake, Toyota's managing officer, said at a news conference in Tokyo.
Despite the decline sales in China, the group has outperformed some of its main rivals, with sales growing 10% year-on-year, compared with a 4.4% increase for General Motors and a 3.9% drop reported by Volkswagen.
In a separate statement on Tuesday, the Japanese automaker confirmed it would invest 59bn yen to build a new line at its Tianjin plant in China, which is expected to become operational by mid-2018.
New York-listed Toyota shares were down 3.45% to $128.58 at 1616 BST on Tuesday.
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Currency | Japanese Yen |
Share Price | ¥ 3,581.00 |
Change Today | ¥ 1,241.00 |
% Change | 53.03 % |
52 Week High | ¥3,581.0 |
52 Week Low | ¥2,340.0 |
Volume | 0 |
Shares Issued | 13,503m |
Market Cap | ¥48,353,753m |
Value |
---|
Price Trend |
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Income |
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Growth |
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Strong Buy | 6 |
Buy | 9 |
Neutral | 6 |
Sell | 1 |
Strong Sell | 0 |
Total | 22 |
Latest | Previous | |
---|---|---|
Interim | Final | |
Ex-Div | 29-Sep-23 | 30-Mar-23 |
Paid | 22-Nov-23 | 26-May-23 |
Amount | 30.00 | 35.00 |
Chair | Takeshi Uchiyamada |
CEO | James Kuffner |
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