Tuesday, August 4th14.6°C
26264
26758

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




Recent Trending




Today's Market
S&P TSX14468.44+85.68
S&P CDNX594.31+6.01
DJIA17598.20-91.66
Nasdaq5115.38-12.90
S&P 5002098.04-5.80
CDN Dollar0.7623+0.0023
Gold1096.90+0.60
Oil46.26+0.70
Lumber259.40+7.30
Natural Gas2.883+0.062

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.42+0.00
Cantex0.035-0.005
Anavex Life Sciences1.13+0.22
Metalex Ventures0.05+0.00
Russel Metals19.40-0.05
Copper Mountain Mining0.79+0.01
Colorado Resources0.065+0.005
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.095-0.045
Decisive Dividend Corp2.55+0.05

 





FEATURED Property
23342242146 Serrento Lane
3 bedrooms 3 baths
$434,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Mortgage policy changes?

There are rumours circulating again that the federal government may move to tighten mortgage insurance criteria. This is prompted by a recent article in the Financial Post. The housing market while b...


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...

_



26370




Member of BC Press Council


25648