The company claims that performance is attributed to strong sales of motorcycles in India and Vietnam.
31 Oct 2018 | 4774 Views | By Autocar Professional Bureau
Honda Motor announced its consolidated financial results for the fiscal first half ended September 30, 2018. Its consolidated sales revenue for the fiscal first half (April 1, 2018 through September 30, 2018) amounted to 7,865.8 billion yen (Rs 514,028 crore), an increase of 5 percentas compared to the same ...
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Honda Motor announced its consolidated financial results for the fiscal first half ended September 30, 2018. Its consolidated sales revenue for the fiscal first half (April 1, 2018 through September 30, 2018) amounted to 7,865.8 billion yen (Rs 514,028 crore), an increase of 5 percent as compared to the same period last year, due primarily to an increase in sales revenue from all businesses.
Consolidated operating profit for the fiscal first half amounted to 513.8 billion yen (Rs 33,580 crore), an increase of 21.7 percent compared to the same period last year, due primarily to an increase in profit related to changes in sales volume and model mix resulting from strong sales of motorcycles, mainly in Asian countries such as India and Vietnam, as well as cost reduction efforts. This also was due to the loss related to the settlement of multidistrict class action litigation recorded during the same period last year.
Consolidated profit for the fiscal first half attributable to owners of the parent amounted to 455.1 billion yen, an increase of 19.3 percent compared to the same period last year.
Honda claims to have set an all-time fiscal first half record for consolidated sales revenue, consolidated operating profit, consolidated profit before income taxes and consolidated profit for the period attributable to owners of the parent. They have attributed the performance of the sales figures an increase in consolidated motorcycle unit sales, an increase in profit resulting from the structural improvement of each business and favourable foreign currency effects.