Honda says first-half profit up 13.5% to $2.47 bn

  • AFP, Tokyo
  • Updated: Oct 30, 2013 13:46 IST

Honda said Wednesday its net profit rose 13.5% to $2.47 billion in the first six months to September, as the Japanese automaker benefited from the weaker yen and strong overseas sales.

Revenue grew 21.6% to 5.72 trillion yen ($58.3 billion) in its fiscal first half, as sales jumped 6.1% in the key North American market and 17.8% in Asia, it said.

Profitability was even better in the quarter to September with net earnings up 46.4% from a year earlier, it said.

A sharp decline in the yen this year has boosted profitability at major Japanese exporters including Honda rivals Toyota and Nissan which report earnings next week.

Honda, Japan's third-biggest automaker, also said it logged an operating profit of 356.4 billion yen, up 27.8%, from a year earlier, although sales slipped at home and in Europe.

It left unchanged its annual profit forecast to March 2014, expecting 580 billion Yen.

also read

Passwords compromised in majority of debit card fraud transactions
Show comments