Honda logs record 1st-half group net profit

Gasgoo From Xinhua News
 Japan's automaker Honda Motor Co. said Thursday that its group net profit and sales for the April-September period both hit record highs for the seventh straight year on a half-year basis.

Honda's midterm consolidated net profit increased 38.1 percent from a year earlier to 374.6 billion yen (3.29 billion U.S. dollars) on sales of 5.9 trillion yen (51.75 billion dollars), up 12.8 percent.

The robust performance of the second-largest automaker in Japan was due to strong demands for its vehicles overseas, the sales of which grew 10.4 percent from a year earlier to 1,604,000 units on the popularity of CR-V sport-utility vehicles and Accord and Civic passenger cars.

Honda said the depreciation of the yen against other major foreign currencies in the first six months also had a positive impact on its earnings.

The automaker's group operating profit increased 28.1 percent to 508.02 billion yen (4.46 billion dollars) in the first half of the fiscal 2007.

However, Honda said its domestic auto sales dropped 14.7 percent to 279,000 units. Its motorcycle sales in the same period also fell 11.7 percent to 4,586,000 units.

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