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Honda’s profit up despite China woes | Updated: 9:09:49 AM, Tuesday April 30, 2013
Honda’s fiscal fourth quarter profit rose nearly 6 per cent as the Japanese car maker’s recovery from floods in Thailand the previous year offset recent sales losses in China.
Honda posted a quarterly profit of 75.7 billion yen ($A746.56 million), up from 71.5 billion yen the same period the previous year, according to company figures released on Friday.
Quarterly sales jumped 14 per cent to 2.74 trillion yen.
Also coming as good news for Japanese exporters like Honda is the weakening yen, as it raises the value of overseas earnings and helps lower selling prices abroad.
The dollar has been approaching 100 yen levels, up by more than 20 per cent from late last year.
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