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Business News

Honda in the black despite earthquake


Honda surprised investors with news of a quarterly profit yesterday as the Japanese group mounted a rebound from the supply-chain issues caused by the earthquake that shook the island nation in March.

The car manufacturer reported a 90 per cent fall in operating profit of 22.58bn yen (£180m) between April and June, despite market expectations of a loss because of the severe parts shortage in the wake of the disaster. The result was underpinned by a strong jump in profits at the company's motorcycle division, and a better than expected performance at Honda's finance business.