Toyota reports 11pc jump in profit
Thursday, 8 November 2007
TOKYO, Nov 7 (AP): Japan's top automaker Toyota said Wednesday its July-September quarter profit jumped 11 per cent on solid overseas sales.
Soaring gasoline prices have boosted the appeal of Toyota's hybrid Prius and fuel-efficient models, such as the Camry and Corolla. Although sales were stagnant at home, sales were strong in North America, Europe, Asia and emerging markets.
Toyota Motor Corp's net profit for the fiscal second quarter rose to 450.9 billion yen ($4 billion) from 405.7 billion yen the same period the previous year. Quarterly sales increased 11 per cent to 6.490 trillion yen ($57 billion) from 5.834 trillion yen.
Toyota raises its forecast for the full fiscal year ending March 2008 to a profit of 1.7 trillion yen ($14.9 billion), from an earlier profit projection of 1.65 trillion yen and raised its sales projection to 25.5 trillion yen ($223.9 billion) from an initial 25 trillion yen.
Soaring gasoline prices have boosted the appeal of Toyota's hybrid Prius and fuel-efficient models, such as the Camry and Corolla. Although sales were stagnant at home, sales were strong in North America, Europe, Asia and emerging markets.
Toyota Motor Corp's net profit for the fiscal second quarter rose to 450.9 billion yen ($4 billion) from 405.7 billion yen the same period the previous year. Quarterly sales increased 11 per cent to 6.490 trillion yen ($57 billion) from 5.834 trillion yen.
Toyota raises its forecast for the full fiscal year ending March 2008 to a profit of 1.7 trillion yen ($14.9 billion), from an earlier profit projection of 1.65 trillion yen and raised its sales projection to 25.5 trillion yen ($223.9 billion) from an initial 25 trillion yen.