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

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.

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.