Related News
Honda drives into net losses
Source: Agencies |
April 29, 2009, Wednesday
|
Print Edition
Print Edition
HONDA Motor Co said yesterday that it booked losses during the January-March period, but fiscal year profits were well above its target and that of financial analysts.
Japan's second-largest car maker expects its profit to decline sharply in the current fiscal year but doesn't expect to slide into the red.
Honda said it had net losses of 186.16 billion yen (US$1.94 billion) in the fourth quarter, down from a 25.43 billion yen profit a year earlier.
For the fiscal year through March, though, Honda earned a net profit of 137 billion yen.
While that was less than a quarter of its profit a year earlier, it was above the company's forecast of 80 billion yen set in January. A survey of 24 analysts by Thomson Reuters had forecast an average profit of 93.67 billion yen for the year.
Like rivals at home and abroad, Honda is feeling squeezed by the global slowdown but so far has managed to outperform its peers, maintaining profits even as revenues fall. Toyota Motor Corp and Nissan Motor Co are both forecasting net losses for the just-ended fiscal year.
Honda said it sold less vehicles in all regions during the fiscal fourth quarter.
Japan's second-largest car maker expects its profit to decline sharply in the current fiscal year but doesn't expect to slide into the red.
Honda said it had net losses of 186.16 billion yen (US$1.94 billion) in the fourth quarter, down from a 25.43 billion yen profit a year earlier.
For the fiscal year through March, though, Honda earned a net profit of 137 billion yen.
While that was less than a quarter of its profit a year earlier, it was above the company's forecast of 80 billion yen set in January. A survey of 24 analysts by Thomson Reuters had forecast an average profit of 93.67 billion yen for the year.
Like rivals at home and abroad, Honda is feeling squeezed by the global slowdown but so far has managed to outperform its peers, maintaining profits even as revenues fall. Toyota Motor Corp and Nissan Motor Co are both forecasting net losses for the just-ended fiscal year.
Honda said it sold less vehicles in all regions during the fiscal fourth quarter.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
