Honda in the black despite earthquake
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Tuesday 02 August 2011
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.
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