Toyota Tsusho operating revenue declines
November 30, 2015 5:27 pm
Toyota Tsusho (South Sea) Ltd, trading as Asco Motors in Fiji recorded operating revenue of $69.8m, compared to $71.3m for the same period last year for half year ending 30th September.
The company says decline in revenue is attributed to the slightly low sales of new vehicles in Fiji market due to the inventory run out of 7th generation Hilux in anticipation of the 8th generation introduction in October.
In its market announcement the company says Toyota retains its brand leadership in Fiji, despite competitions from existing and new entrants in the market.
It says the 8th generation has been introduced and the company has received positive response from customers.
Company’s Yamaha and Avis businesses have grown as a result of business restructures and investments.
It says the buoyant economy and the growth in the Fijian tourism sector has had a positive impact on both businesses.
The company recorded a net profit after tax of $3.9m compared to $4.5m for the same period last year.