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Honda confident despite profit slide

China Daily | Updated: 2009-07-30 08:01

TOKYO: Honda's quarterly profit dwindled to 7.5 billion yen ($79.8 million) but the automaker raised forecasts for the full year on optimism about better auto sales.

Honda Motor Co said yesterday its April-June quarter profit plunged 96 percent from 173.3 billion yen a year earlier, battered by slumping car sales and a strong yen, which offset benefits from cost cuts.

The results for the fiscal first quarter were better than the flood of red ink some analysts had forecast.

Honda confident despite profit slide

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