Toyota reports nine-month net profits jump

16:44, February 08, 2011      

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Japan's Toyota Motor Corp. on Tuesday announced its net profits for the nine-month period ending December 31 surged 293.7 percent to 382.7 billion yen (about 4.6 billion U.S. dollars).

The financial results released on the automaker's official website also said the net revenues for the nine-month period totaled 14.351 trillion yen, an increase of 5.0 percent compared with the same period last fiscal year.

For the October-December quarter, Toyota's operating profit was 99.07 billion yen, down from 189.1 billion yen booked a year earlier, but above median economists' expectations. The automaker' s third quarter net profit fell 38.9 percent from a year earlier to 93.63 billion yen, the firm announced.

It recorded a 47.6 percent drop in quarterly profits, citing a strong yen as adversely affecting sales in overseas markets.

For the full fiscal year to March 31, however, Toyota raised its annual operating profit forecast to 550 billion yen from 380 billion yen, after its nine-month profit exceeded the original figure.

The world's largest automaker said it now expects a group net profit of 490 billion yen, compared with an earlier projected profit of 350 billion yen.

Source: Xinhua

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