The turn of a new financial year has seen Toyota post a healthy $249 million profit, however, that's down $83 million from the previous financial year.
Toyota Australia posts $249 million after-tax profit miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
One of Australia’s largest and most iconic car dealerships has been sold in a multimillion-dollar real estate deal, as land tax puts the squeeze on showrooms in prime locations.
Date Time
Toyota Australia posts $332 million after-tax profit
Toyota Motor Corporation Australia Limited (TMCA) has announced an after-tax profit of $332 million for the financial year ended 31 March 2021 (FY20: after-tax profit of $129 million).
Comprising Toyota Australia and Lexus Australia operations, TMCA sold a total of 220,403 vehicles locally during FY21. This was an increase of 2.2 per cent compared with FY2020 and contrasted the overall industry decline of 7.8 per cent.
The profit result reflected the strong recovery of new vehicle sales through the second half of the financial year and the sale of the TMCA property at Caringbah and the Sydney City Toyota dealership in NSW. After adjusting for one-off prior year tax adjustments and the impact of property sales, the increase in underlying after-tax profit is $80 million compared to the year prior.