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Honda sees full-year profit rising 19% after missing forecasts in Q4

Reuters
Updated ·1-min read
FILE PHOTO: Auto Shanghai show, in Shanghai

TOKYO (Reuters) - Japan's Honda Motor Co on Thursday forecast a 19.1% rise in operating profit for this business year, after it missed analysts' estimates in the fourth quarter.

Japan's second-biggest automaker forecast full-year operating profit rising to 1.0 trillion yen ($7.40 billion) compared with a 985.62 billion yen average profit expected by 21 analysts. It said it expected higher sales volume and to benefit from a strengthening supply chain.

Operating profit for the three months to Mar. 31 stood at 105.5 billion yen, compared to an average estimate of 164.78 billion yen in a poll by 11 analysts by Refinitiv.

(This story has been corrected to fix the rise in full-year profit forecast to 19.1% from 14.9%, in both the headline and paragraph 1)

($1 = 135.0500 yen)

(Reporting by Daniel Leussink; Editing by David Dolan)