Honda quarterly net profit jumps to $1.4-B

Agence France-Presse

Posted at Jul 29 2014 02:57 PM | Updated as of Jul 29 2014 10:57 PM

TOKYO - Japanese automaker Honda said Tuesday its latest quarterly net profit jumped 19.6 percent to $1.4 billion thanks to a weak yen, as it boosted its full-year profit and sales forecast.

Honda said it earned 146.5 billion yen ($1.4 billion), up from 122.5 billion yen a year earlier, as sales rose 5.4 percent to 2.99 trillion yen.

Its new profit forecast for the fiscal year through March stood at 600 billion yen, up from 595 billion yen, while it also revised upward its full-year sales projection to 12.8 trillion yen, from 12.75 trillion yen.

Honda credited its profit gains to "increased revenue in our automobile and motorcycle business operations, as well as favorable foreign currency translation effects," in a statement issued by the company.

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