May 14, 2020 / 4:29 AM / 2 months ago

Mazda posts 47% fall in full-year profit, skips financial forecasts

TOKYO, May 14 (Reuters) - Mazda Motor Corp on Thursday posted a 47% decline in annual operating profit in the year ended March 31, its weakest performance in eight years as the coronavirus pandemic ate into global vehicle demand.

Profit at Japan’s No. 5 automaker came in at 43.6 billion yen ($408 million) for the year, nearly half the 82.3 billion yen for the previous year and its lowest since the year ended March 31, 2012. Still, it exceeded a consensus estimate of 25.7 billion yen in profit from 17 analysts polled by Refinitiv.

Mazda declined to give an earnings forecast for the current business year due to uncertainties about the longer term impact of the coronavirus on its operations and sales. (Reporting by Naomi Tajitsu; Editing by Tom Hogue)

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