Mazda Motor Projects To Report Profit This Year

Mazda Motor Corp (OTC: MZDAF) projects to swing to profit this fiscal year.

Mazda Motor expects a net profit of Y1 billion in the current fiscal year, versus a Y60.04 billion net loss, in the previous fiscal year. Analysts expected a profit of Y620 million. The company projects sales to drop 5.8% to Y2.190 trillion from Y2.326 trillion. It projects operating profit to fall 16% to Y20.00 billion from Y23.84 billion.

Mazda Motor shares dropped 0.85% to close at $2.32 yesterday.

Read more from Benzinga's Company news.