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Honda sees slide in Q2 operating profit but raises full-year outlook
November 1, 2017 / 6:22 AM / a month ago

Honda sees slide in Q2 operating profit but raises full-year outlook

TOKYO, Nov 1 (Reuters) - Honda Motor Co reported a 32.9 percent fall in operating profit in the second quarter as a litigation settlement wiped out the impact of higher sales.

Japan’s No. 3 automaker posted a 152.9 billion yen ($1.34 billion) operating profit in July-September, down from 228.0 billion yen a year ago and slightly lower than a mean estimate for 153.84 billion yen, taken from 11 analysts polled by Thomson Reuters I/B/E/S.

Honda raised its forecast for full-year operating profit to 745 billion yen, based on a revised assumption that the yen will trade around 109 yen to the U.S. dollar.

Despite the upgrade, that would still mark an 11.4 percent slide from last year. ($1 = 113.7700 yen) (Reporting by Naomi Tajitsu; Editing by Kim Coghill)

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