Company stays in the black, even after the high costs of closing Altona plant
Toyota Australia posted a $137 million after-tax profit for the 2017-18 Japanese financial year, ending March 31, despite wearing $147m in “restructuring costs” from the closure of its Altona factory last October.
The tidy sum is up on the $99 million profit the company posted last financial year, a sum watered down by $131m in incurred restructuring costs depreciated over a four-year period. In 2015/16 TMCA posted $236 million in profit.
This is not a company used to being in the red. Reckon all those HiLux SR5s might have decent margins?
Interestingly, the local sales total was 9 per cent higher than FY2016/17’s tally. The HiLux is the country’s top-selling vehicle, and the Corolla the nation’s number one passenger car. The company’s overall market share is nudging 20 per cent.
"We have now completed our transition to a sales, marketing and distribution business, and the fact that we have been able to increase both local sales and market share shows that our organisation is moving from strength to strength,” Toyota Australia president Matthew Callachor said.
"Our focus has turned to the changes facing the automotive industry. We are cognisant of the impact that possible emissions regulations, autonomous vehicles and connected technology will have on the whole industry."