Daihatsu posts record profit

TOKYO: Daihatsu in Japan has reported a 99 percent increase in profit for the financial year to March 31, to about US$170 million.

The record profit for the Japanese small-car carmaker was on the back of increased sales both in its domestic and export markets.

Domestic sales rose 16 percent to a total value of $6.85 billion while exports increased by 15 percent.

Daihatsu has predicted for 1997 a more modest growth in profits of just 3 percent.