Isuzu Motors Ltd. (ISUZY.PK), a Japanese vehicle and diesel engine maker, on Monday reported a decline in earnings for the first-half, hurt by a fall in vehicle and engine sales, and higher material costs.
Citing its first-half result, the automaker has revised down its annual guidance.
For the six-month period to September 30, the company recorded a net profit of 69.175 billion yen or 92.53 yen per share, lesser than 88.108 billion yen or 113.66 yen per share, registered for the same period last year.
Pre-tax income was at 127.683 billion yen as against last year's 155.901 billion yen.
Operating income fell to 129.197 billion yen from 143.195 billion yen a year ago.
Non-operating expenses on the other hand increased to 11.294 billion yen from 3.722 billion yen of previous year.
Revenue slipped to 1.536 trillion yen from previous year's 1.637 trillion yen.
The total number of vehicles sold decreased by 81,848 units or 25 percent to 245,217 units, from last year. Sales of industrial engines also fell by 6.9 billion yen, year-on-year, to 51.3 billion yen.
Looking ahead, for the full year, the company now expects net profit of 135 billion yen 182.57 yen per share, lower than prior outlook of 160 billion yen or 213.71 yen per share.
Operating income is now projected to be 230 billion yen, compared with earlier guidance of 260 billion yen.
Revenue is now anticipated to be 3.250 trillion yen, compared with previous expectation of 3.350 trillion yen.
For full year, the company aims to pay a total dividend of 92 yen per share, unchanged from last year's 92 yen per share.
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