Subaru's annual profit halves; earnings released early after snafu

TOKYO - Japanese automaker Subaru Corp said on Friday its operating profit for the past year halved after it suffered a string of setbacks including production delays and mounting recalls.

The results, officially released at 10:25 a.m. instead of the scheduled 1:00 p.m., showed operating profit fell 48.5 percent to 195.53 billion yen in the year ended in March, in line with analysts’ estimates. Under the previous Japanese accounting standards, operating profit would rise 28 percent to 250 billion yen, it said.

Subaru’s recent production- and quality-related issues are the side effects of its rapid growth following a ramp-up in output in the United States in the past few years to keep up with booming demand from for its rugged-looking models.

They also lost manufacturing of the Camry to Toyota which I assume is the actual reason profits are down.

subaru_usa BRING THE LEVORG TO AMERICA AND I WILL BUY ONE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Mallinckrodt jumps 9% after drugmaker beats first-quarter earnings estimates, raises 2019 profit outlookMallinckrodt Pharmaceuticals soared in premarket trading Tuesday after the company released first-quarter earnings that beat Wall Street's expectations and raised its profit outlook for the year.
Källa: CNBC - 🏆 12. / 72 Läs mer »

Amazon is hiring hundreds more people to start package delivery companies with annual profits up to $300,000Amazon is planning to hire hundreds more people in the coming months to open and run courier businesses delivering packages for the tech giant. Similar to FXG business model.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »