Toyota operating profit up 10 per cent amid robust sales in Asia
Toyota Motor
Tokyo - DPA
Toyota Motor saw its operating profit in the July-to-September quarter rise 10.9 per cent year-on-year to 579.2 billion yen (5.1 billion dollars) due to cost-cutting measures and strong sales in Asia, the carmaker said Tuesday.
Japan’s largest carmaker also booked a net profit of 585.1 billion yen for the quarter, up 27.6 per cent in the same period last year, while sales were up 2.3 per cent to 7.3 trillion yen.
Vehicle sales in Asia grew 9.1 per cent from a year earlier to 417,000 units in the three month period, while those in North America edged down 1 per cent to 665,000, Toyota said.
Strong sales and cost-cutting measures led Toyota to revise up its operating profit outlook for the current financial year to 2.4 trillion yen from 2.3 trillion yen predicted in August.
The carmaker also raised its net profit forecast for the year to March 2019 to 2.3 trillion yen from 2.12 trillion yen estimated three months ago, while sales were now predicted at 29.5 trillion yen from 29 trillion yen.
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