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)

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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