Honda cuts forecast despite surge in profit
- Japan: Tuesday, October 30 - 2012 at 02:47
Honda Motor Co has warned that its full-year results would be much weaker than forecast, even as its first-half profit more than doubled to $2.7bn, Reuters has reported. Blaming a strong yen and weakening sales, Japan's third-biggest automaker said it now expects to earn ¥375bn ($4.7bn) in its fiscal year to March 2013, down from an earlier ¥470bn forecast. "We expect earnings to come below the estimates announced on April 27, 2012, due to a decrease in sales volume amid the changing business environment and the impact of currency exchange rates," the carmaker said.
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