TOKYO (Reuters) - Honda Motor Co posted a more than doubling in quarterly operating profit on Friday, as production recovered from the earthquake and tsunami in Japan last year, and it forecast a 38 percent rise in global sales in the year ahead as it makes up for lost time. Honda, which has lagged a recovery from the effects of disasters in Japan and Thailand by rivals Toyota Motor Corp and Nissan Motor Co , reported operating profit for the January-March fourth-quarter of 111.98 billion yen ($1.4 billion), slightly lagging an average estimate of 123. ...
TOKYO — Toyota Motor Corp kept its lead over rivals General Motors Co and Volkswagen AG this year, January-September global sales figures showed, as the Japanese carmaker closes in on a record annual profit.
Toyota’s groupwide sales totalled around 7.412 million vehicles, up 0.1% from the same period a year ago, the company said on Monday, as strong sales in the United States offset slowdowns in Thailand and China.
Toyota’s groupwide total includes sales at affiliates Daihatsu Motor Co Ltd and Hino Motors Ltd.
Honda Motor Co. (HMC) posted a 40% decline in profit, reaching ¥81.12 billion ($995 million) or ¥45.01 (55 cents) per share in the third quarter of its fiscal 2011 from ¥134.63 billion or ¥74.19 per share in the same quarter of prior fiscal year.
The positive sentiment stemming from a positive close on Wall Street and saw Shanghai Comp (+0.33%), Hang Seng (+1.09%) trade higher, failed to support the Nikkei 225 (-2.10%), which underperformed its peers and finished in the red amid JPY strength as BoJ's Kuroda failed to hint on more easing. Stocks in Europe (Eurostoxx50 +0.32%) traded higher since the open, with Bunds also under pressure amid the reversal in sentiment.Alcoa kicked off earnings season yesterday, with shares up 3% in after-market hours. Focus now turns to the release of the FOMC meeting minutes.
French spirits group Remy Cointreau said on Tuesday it had more than tripled its net profits in the first half of its fiscal year amid "remarkable growth" in Asian sales of premium cognac.Net profits from April to September were at 47.5 million euros ($63.3 million), up from 14.1 million euros in the same period last year, the company said in a statement.Sales were up 11 percent to 475 million euros, operating profit was up 27 percent to 106.2 million euros and the operating margin had risen from 19.5 to 22.4 percent.