Monday, August 31st17.0°C
27214
27267

Toyota quarterly profit triples

Toyota's quarterly profit tripled, driven by a recovery from natural disasters, and the company raised its full-year earnings forecast Monday despite a sales slump in China.

Toyota Motor Corp., on track to regain the crown of world's No. 1 automaker this year, reported a July-September net profit of 257.9 billion yen ($3.2 billion) compared with an $1 billion profit a year earlier. The result was better than the 238 billion yen ($3 billion) quarterly profit forecast by analysts surveyed by FactSet.

Japan's top automaker raised its profit forecast for the full fiscal year through March 2013 to 780 billion yen ($9.8 billion) from 760 billion yen ($9.5 billion).

It had a profit of 283.5 billion yen the previous fiscal year when Toyota's car production was hammered by the tsunami disaster in northeastern Japan and flooding in Thailand.

The company's optimism comes despite a sales plunge in China, where a territorial dispute over tiny islands known as Senkaku in Japan and Diaoyu in China has set off protests and a boycott of Japanese cars in recent months.

Quarterly sales improved 18 per cent to 5.4 trillion yen ($67.6 billion) as the demand for Toyota vehicles picked up across all major regions, including North America, Europe, Japan and Asian nations other than China.

The Canadian Press


Read more Business News

25990


Recent Trending




Today's Market
S&P TSX13759.69-105.38
S&P CDNX558.42+2.75
DJIA16545.46-97.55
Nasdaq4799.45-28.87
S&P 5001976.41-12.46
CDN Dollar0.7582+0.0014
Gold1132.30-0.80
Oil48.11+2.89
Lumber233.00-4.10
Natural Gas2.677-0.038

 
Okanagan Companies
Pacific Safety0.175+0.010
Knighthawk0.010.00
QHR Technologies Inc1.20-0.09
Cantex0.04-0.01
Anavex Life Sciences1.37+0.03
Metalex Ventures0.05-0.00
Russel Metals22.00+0.59
Copper Mountain Mining0.63-0.01
Colorado Resources0.075-0.005
ReliaBrand Inc0.0045+0.0005
Sunrise Resources Ltd0.02-0.01
Mission Ready Services0.085+0.015
Decisive Dividend Corp2.75+0.14

 





FEATURED Property
2290254#305-2770 Auburn Road
2 bedrooms 2 baths
$202,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Agree to ask questions

Photo: Thinkstock.comThe STORY: I think, said Janet to herself, that I just figured out a solution to my problem of letting the prospect run the meeting.With that thought in mind, she got out of her c...


Your business is not a bank

Photo: Thinkstock.comYour plumbing business is not a bank. But when you are giving terms to customers that exceed what you get from your suppliers, you become one. And every time that someone does not...


Begin with the end in mind

Photo: ContributedWe humans love our dates: birthdays, anniversaries, 9/11, the Ides of March - our lives are intimately woven within the tapestry of the calendar. So it should come as no surprise whe...

_



26586

27313


Member of BC Press Council


27438