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Honda reports soaring profits, predicts another record profit year
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Date: February 03, 2003 13:53
Submitted by:
JeffX
Source:
AP
Credibility Rating:
N/A
By YURI KAGEYAMA, AP Business Writer
TOKYO - Japanese automaker Honda Motor Co. posted a 40 percent surge in profits during the latest quarter on solid sales in North America and forecast on Friday a record year of profits for the second year in a row.
For the October-December period, Japan's No. 2 automaker recorded a profit of 115 billion yen (US$966 million), up from 82 billion yen the same period a year ago. Sales climbed 13 percent to 1.989 trillion yen (US$16.7 billion) from 1.756 trillion yen.
The Tokyo-based company predicts 430 billion yen (US$3.6 billion) in profits for the fiscal year ending in March ? up 19 percent from 363 billion yen in fiscal 2001 and heralding another record year of profits.
Fiscal 2001 had been the best-ever profit year for Honda following the previous record in the year ended March 1999.
u=/ap/20030131/ap_wo_en_po/as_fin_earns_japan_honda_1" >Read the rest of the article here
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