Yamaha swings to profit of $90 mn in Q3

Yamaha swings to profit of $90 mn in Q3

Tokyo: Japan’s Yamaha Motor said on Thursday it swung back into the black in its fiscal third quarter and raised its full year profit outlook on cost cutting and strong motorcycle sales in Southeast Asia.

In the three-month to the end of September the motorcycle maker saw a net profit of ¥7.3 billion ($90 million), reversing an ¥84 billion net loss a year earlier.

The company cited strong motorcycle sales in Indonesia, Thailand and Vietnam, contributing to 11.5% of the turnover in the quarter.

Yamaha last year put together measures to consolidate domestic plants in an effort to cut costs.

For the full year ending 31 December, Yamaha raised its net profit outlook to ¥26 billion from 25 billion, and forecast higher operating profit at ¥50 billion from 45 billion.