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June 11 2004
Isuzu Turnaround Continues Apace
Isuzu Motors Limited, (Japan), has delivered strong results with the company announcing a record profit for the 2004 financial year.
The company, in the second year of its business restructuring plan, registered a 446 per cent increase in operating profit to JPY 84 billion, coming on the back of a six per cent gain in total sales revenue, company rationalisation and a reduction in expenses.
Sales of Isuzu trucks have boomed in Japan following introduction of new emission regulations, while China and other ASEAN countries are continuing to provide high demand.
Isuzu's consolidated operating profit improved markedly to 5.9 per cent, up from 1.1 per cent for the same period 2003.
Mr Yoshinori Ida, President, Isuzu Motors Limited, said the results were a clear sign that the three year plan was heading the company in the right direction.
When the plan was introduced, Mr Ida said detractors had called Isuzu to account.
He said they had questioned "whether restructuring measures we had taken in the previous year could translate into solid earnings in 2004 [and] whether fundamental earnings strengths could be improved. Our results have stood firm," he explained.
On top of the strong Japanese domestic sales, the company's international strategy was delivering results, Mr Ida added.
"Our sales expansion effort in overseas markets paid off, contributing to a rapid growth of commercial vehicle and diesel engine sales.
"Sales are riding high in ASEAN countries and China where Isuzu took an early lead in establishing itself both in terms of infrastructure and brand awareness."
Mr Ida said Isuzu's move to take a massive one-time restructuring charge in the first part of the three year plan had realised solid reform of the company's fundamental earnings structure.
Source ---> http://www.isuzu.com.au/news.asp?id=122&type=1
Isuzu Turnaround Continues Apace
Isuzu Motors Limited, (Japan), has delivered strong results with the company announcing a record profit for the 2004 financial year.
The company, in the second year of its business restructuring plan, registered a 446 per cent increase in operating profit to JPY 84 billion, coming on the back of a six per cent gain in total sales revenue, company rationalisation and a reduction in expenses.
Sales of Isuzu trucks have boomed in Japan following introduction of new emission regulations, while China and other ASEAN countries are continuing to provide high demand.
Isuzu's consolidated operating profit improved markedly to 5.9 per cent, up from 1.1 per cent for the same period 2003.
Mr Yoshinori Ida, President, Isuzu Motors Limited, said the results were a clear sign that the three year plan was heading the company in the right direction.
When the plan was introduced, Mr Ida said detractors had called Isuzu to account.
He said they had questioned "whether restructuring measures we had taken in the previous year could translate into solid earnings in 2004 [and] whether fundamental earnings strengths could be improved. Our results have stood firm," he explained.
On top of the strong Japanese domestic sales, the company's international strategy was delivering results, Mr Ida added.
"Our sales expansion effort in overseas markets paid off, contributing to a rapid growth of commercial vehicle and diesel engine sales.
"Sales are riding high in ASEAN countries and China where Isuzu took an early lead in establishing itself both in terms of infrastructure and brand awareness."
Mr Ida said Isuzu's move to take a massive one-time restructuring charge in the first part of the three year plan had realised solid reform of the company's fundamental earnings structure.
Source ---> http://www.isuzu.com.au/news.asp?id=122&type=1
