Toyota posts 54 per cent jump in Q3 profit, lifts full-year forecast

[TOKYO]Toyota Motor Corp on Tuesday reported a 54 per cent jump in operating profit for the third quarter, boosted by strong performance at home in Japan along with a weaker yen, and raised its forecast for full-year profit.

Japan's biggest-selling automaker posted 673.6 billion yen (S$8.18 billion) operating profit for October-December, from 438.59 billion yen a year earlier. The result exceeded a mean estimate of 527.22 billion yen taken from 11 analysts polled by Thomson Reuters I/B/E/S.

Toyota raised its forecast for operating profit in the year through March to 2.2 trillion yen, a 10 per cent rise from last year, based on an unchanged assumption of the yen averaging around 111 yen versus the U.S. dollar.

REUTERS