Cars

Toyota NZ has large jump in profit and revenue

Riley Kennedy
Fri, 05 Aug 2022

Toyota NZ has large jump in profit and revenue
Toyota NZ more than doubled its net profit in the year to March 31. (Image: Toyota)
Riley Kennedy
Fri, 05 Aug 2022
Strong consumer demand has more than doubled Toyota New Zealand’s net profit on the back of higher revenue.The Palmerston North-based offshoot of the Japanese vehicle giant said profit for the year to March 31, 2022, increased by 117% to $81.2 million, up from $37.3m in the prior year, according to its annual results filing on the NZ Companies Register.The company’s revenue increased by $172m to $1.465 billion, up from $1.293b in 2021.Despite ongoing supply constraints, changing covid-19 alert levels and extended delivery time frame...

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