Honda raises forecast as profit rises
Asian sales of cars and motorcycles helped offset a slide in North American demand
Honda Motor posted a 0.9 per cent rise in operating profit for the first quarter as strong Asian sales of cars and motorcycles helped offset a slide in North American demand, while a positive currency impact also aided the bottom line.
Operating profit at Japan's third-largest car maker came in at ¥269.2 billion (Dh8.96bn) in April-June, up from ¥266.84bn a year ago and above estimates for ¥230.43bn from seven analysts polled by Reuters.
Honda raised its forecast for full-year operating profit to ¥725bn, from a previous forecast of ¥705bn, as it expects a smaller negative currency impact. It now expects the US dollar to average around ¥107 through March, from a previous forecast of ¥105 yen.
Updated: August 1, 2017 10:31 AM