Japanese automaker Honda said Thursday that its net profit for the nine months to December 2012 more than doubled to $3.2 billion thanks to sales gains and cost-cutting.
The Honda Motors logo is displayed on a car in front of the Tokyo headquarters on July 30, 2010. Honda said Thursday that its net profit for the nine months to December 2012 more than doubled to $3.2 billion thanks to sales gains and cost-cutting.
The company said its net profit of 291.4 billion yen was up from 139.9 billion yen in the same period the previous year, while sales jumped 28.7 percent to 7.13 trillion yen.
Honda also trimmed its full-year to March net profit forecast to 370 billion yen, down from a previous 375 billion yen.
Earlier this week, Japan's three biggest automakers -- Toyota, Nissan and Honda -- announced record sales for 2012, underscoring the trio's recovery after Japan's quake-tsunami disaster in 2011 devastated sales and production, and highlighting strong demand in Asian and US markets.
That helped offset weakness in debt-hit Europe and a downturn in China sales stemming from a diplomatic row that sparked a consumer boycott of Japanese goods in China, the world's biggest vehicle market.
In the separate data earlier this week, Honda, Japan's number-three automaker, said it logged sales of 3.81 million vehicles, up from 3.09 million a year, for the calendar year 2012.
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Article source: http://www.thethailandlinks.com/2013/01/31/honda-nine-month-net-profit-doubles-to-3-2-billion/
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