Honda's third quarter profit doubles year-on-year due to strong global sales, weak yen - InfoNews

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Honda's third quarter profit doubles year-on-year due to strong global sales, weak yen

January 30, 2014 - 10:37 PM

TOKYO - Honda's fiscal third quarter profit doubled from a year earlier as sales got a big perk from a weak yen.

Honda Motor Co. reported on Friday a 160.7 billion yen ($1.58 billion) net profit for the October-December quarter, up from 77.4 billion yen the year before.

The maker of the Fit subcompact, Odyssey minivan and Asimo humanoid, posted a 25 per cent jump in quarterly sales to 3.02 trillion yen ($29.6 billion).

Tokyo-based Honda, like other Japanese automakers, has bounced back from troubled years, such as the 2011 tsunami and earthquake in northeastern Japan that devastated parts suppliers and disrupted production.

Honda was also hurt by flooding in Thailand in late 2012. Anti-Japanese sentiment that flared up in China eroded sales in that key growth market last year.

News from © The Associated Press, 2014
The Associated Press

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