Honda Motor 1st Half Net Profit Up 12.1%

Honda Motor Co. said Monday its group net profit rose 12.1 % in the April-September period due to strong overseas sales, prompting the automaker to lift its full-year guidance.

    Japan's third-biggest carmaker by volume posted a group net profit of 351.80 billion yen ($3.36 billion) in the six months ended Sept. 30, up from 313.79 billion yen a year earlier, as solid sales outside Japan offset the impact of the yen's appreciation.

    Consolidated operating profit stood at 494.92 billion yen, up 22.5 %, while sales decreased 8.1 % to 6.73 trillion yen, Honda upgraded its earnings forecasts for the current business year through March 31, with group net profit projected at 415 billion yen, up from its earlier estimate of 390 billion yen.

    Operating profit was projected at 650 billion yen, up from 600 billion yen, and sales at 13.4 trillion yen, down from 13.75 trillion yen.