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Honda net profit up 19.6% on strong Asia sales

DPA Tokyo | Updated on March 12, 2018

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Honda Motor Co said on Tuesday its net profit for the April-to-June quarter jumped 19.6 per cent from a year earlier to ¥146.5 billion ($1.44 billion), due mainly to cost-cutting measures and robust sales in Japan and other Asian markets.

Japan’s third-largest carmaker said its operating profit for the quarter grew 7.1 per cent from the same period last year to ¥198 billion while sales were up 5.4 per cent to ¥2.99 trillion.

Honda revised up its net profit forecast for the current financial year to March 2015 to ¥600 billion, compared with ¥595 billion estimated three months ago.

The carmaker also predicted its operating profit outlook at ¥770 billion, up from ¥760 billion forecast in April, while sales were predicted at ¥12.8 trillion.

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Published on July 29, 2014
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