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Honda lifts full-year revenue forecast on weak yen, strong North America sales

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Honda Motor Co on Wednesday slightly lifted its full-year revenue forecast after quarterly net profit rose 6.9 per cent due to strong vehicle sales in North America.

[TOKYO] Honda Motor Co on Wednesday slightly lifted its full-year revenue forecast after quarterly net profit rose 6.9 per cent due to strong vehicle sales in North America.

Honda raised its revenue forecast to 14.6 trillion yen (S$168.4 billion), from a previous forecast of 14.5 trillion yen, saying it anticipated a positive impact from a weaker yen.

Net profit, which includes earnings made in China, during the July-September quarter at Japan's third-biggest automaker rose to 127.7 billion yen from 119.5 billion a year earlier. That was lower than an average estimate for 129.12 billion yen drawn from forecasts by 26 analysts according to Thomson Reuters I/B/E/S/ data.

Operating profit for the second quarter fell 2.5 per cent to 164.84 billion yen.

From this fiscal year, Honda is reporting results under international accounting standards for the first time.

REUTERS

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