Suzuki Motor operating profit up, cautious ahead

TOKYO, Apr 28 : Japanese compact car maker Suzuki Motor Corp. reported a slower-than-expected 5.9 percent rise in annual operating profit on Friday, though sales were healthy worldwide, and projected no change in net earnings for the current business year.

For the year ended March 31, operating profit came to 113.87 billion yen (6.3 million), short of a consensus estimate of 116.3 billion yen by analysts surveyed by Reuters Estimates. Net profit rose 9.0 percent to 65.95 billion yen.

For the year to the end of next March, the maker of the Swift compact cars forecast net profit to be little changed at 66 billion yen, against a forecast of 71 billion yen by 17 analysts.

Suzuki has been boosting sales of motorcycles and cars in Asia and Europe, notably leading the pack in the fast-growing Indian market through its local unit Maruti Udyog Ltd.

During the 12 months ended March 31, Suzuki's shares gained 41 percent to 2,705 yen, underperforming Tokyo's transport sector subindex ITEQP, which rose 50 percent in the same period.

REUTERS