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...lowers global outlook

Honda has said it expects net profit to tumble 64% in 2011-12 compared with last year due to the March 11 earthquake and a strong yen.

autos Updated: Jun 14, 2011 22:24 IST

Honda has said it expects net profit to tumble 64% in 2011-12 compared with last year due to the March 11 earthquake and a strong yen.

It forecast net profit of 195 billion yen ($2.4 billion) compared to last year's 534 billion, and operating profit 65% lower at 200 billion yen. A loss in production, decreased sales and restoration costs were expected to be compounded by a strong yen, it said on Tuesday.