Honda reports record profit
Japanese automaker Honda Motor Co. announced that its operating profit rose 5.1% year on year to Yen 630.9 billion (around $6.2 billion) for the fiscal year ended March 31, 2005.
Strong overseas sales contributed to the automakers operating profit.
Fiscal year sales climbed to a record high Yen 8.7 trillion (around $81.9 billion), up 6% from Yen 8.2 trillion (around $77.4 billion) a year ago.
Net profit, which includes earnings from Hondas Chinese operations, rose 4.7% to a record Yen 486.2 billion (around $4.6 billion).
Hondas vehicle sales fell a slight 0.6% in
Japan during the fiscal year. On the other hand, sales were up 16% in
Europe and 50% in Asia. North American sales rose 1.1% year on year.