Suzuki Motors Corporation (SMC) has once again clocked all-time highs in its consolidated financial results for the fiscal year ending March 2008, with a 10.7 per cent increase in consolidated net sales

This is the ninth straight year in which the company has posted positive net revenues with its sales hitting 2.41 million units, said a company official.

The company has also posted gains in operating income and ordinary income for the eighth consecutive year besides in net income for the seventh straight year.

Operating income from the past 12 months achieved an increase of 12.4 per cent; ordinary income jumped by 12.7 per cent; while net income increased by seven per cent.

Suzuki's remarkable performance has been largely attributed to its successful business and market expansion strategies, which have aggressively placed Suzuki in a position to further consolidate its share in both its domestic and international markets.

With Suzuki already hitting its consolidated sales target of 3.5 trillion yen in its medium term five-year plan from 2005 to 2010, the company has recently drawn up a new medium term three-year plan from April 2008 to March 2010, resetting its consolidated sales target to 4 million yen and its world production from 2.64 million in fiscal year 2007 to 3.2 million by 2010.

Under the new plan, Suzuki will pour new investments in research and development and facilities, and also strengthen its revenue base and human resources.

Overall, Suzuki posted a global increase of 8.3 per cent in automobile sales, powered by a 13.1 per cent sales growth from overseas markets.

In addition to its impressive financial results, Suzuki also posted record highs in overall car production, registering a 9.3 per cent increase, again underpinned by strong performance in overseas markets, which recorded a remarkable 18.2 per cent increase in production.-TradeArabia News Service