Honda profits rise 8%
Financial Times - http://www.ft.com/cms/s/0/2003f828-5a19-11dd-bf96-000077b07658.html Honda defied a sinking US car market and unfavourable exchange rates to announce an 8 per cent rise in quarterly profit on Friday. However, the Japanese carmaker warned that business conditions were likely to worsen in the months ahead Honda’s line-up of small, fuel-efficient cars has insulated it from the worst effects of the slowdown in the US, where it makes about half its non-motorcycle sales. Some of its models, notably the diminutive Fit and Civic, have become such popular choices for downsizing drivers that the company is struggling to meet demand. Honda’s Y180bn ($1.7bn) net profit for the fiscal first quarter exceeded analysts’ expectations and set a company record for the period. It also stood out against crippling problems elsewhere in the industry. On Thursday, Ford announced a record quarterly loss of $8.7bn as it announced a dramatic overhaul of its operations that would re-focus on smaller cars. Koichi Kondo, Honda executive vice-president, cautioned that its strong quarterly results obscured “very harsh overall conditions” as prices for steel and other raw materials continue to rise and a weak US resale market erodes the value of the company’s leasing fleet Honda stood by its gloomy prediction of an 18 per cent decline in net profit for the full year to next March. It trimmed its operating profit forecast by 3 per cent and cut its global and US sales projections by 1.4 per cent each, to 4.08m vehicles and 1.745m vehicles, respectively. Koji Endo, analyst at Credit Suisse, said: “It was a good quarter but I think investors are going to be disappointed by how they see the full year.” ------------------------------------ Kunjungi situs http://www.info-saham.com untuk informasi seputar saham. DILARANG KERAS MEMOSTING OPINI PRIBADI TENTANG POLITIK DI MILIS INI. Silahkan lakukan itu di milis [EMAIL PROTECTED] [EMAIL PROTECTED] untuk berhenti dari milis saham [EMAIL PROTECTED] untuk bergabung ke milis saham Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/saham/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/saham/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
