Mazda Operating Profit Goes Zoom Zoom

TOKYO, Oct 17, 2003; Reuters reported that Mazda Motor Corp, the smallest of Japan's top five auto makers, will likely report a 70 percent jump in first-half operating profit year-on-year thanks to brisk sales in Europe, the Nihon Keizai newspaper said on Friday.

Mazda, owned one-third by Ford Motor Co, is expected to report about 25 billion yen ($227.6 million) in operating profit for the six months to September, on revenues of 1.22 billion yen, up five percent, the paper said.

A Mazda spokesman declined to comment on the report.

European sales appear to have risen 33 percent, the paper said, aided by strong sales of Mazda6/Atenza, a product developed under an entirely new product and design strategy to put the company on a firm recovery track.

Domestic sales seem to have increased six percent, although U.S. sales were down 10 percent, the paper said.

Mazda, in the midst of a five-year turnaround plan, said in July revenues rose 10 percent in the April-June quarter, citing strong sales in Europe.