Honda Motor Q2 Profit Increases; Backs FY14 Outlook - Quick Facts

(RTTNews) - Honda Motor Co., Ltd. (HMC) reported that its second-quarter of fiscal 2014 net income attributable to the company rose 46.4% to 120.3 billion yen from last year's 82.2 billion, with earnings per share increasing to 21.16% to 66.79 yen from 45.63 yen in the second-quarter of 2013.

Operating income improved 70.0% to 171.4 billion yen from the previous year's 100.8 billion yen, primarily due to an increase in sales volume and model mix and favorable foreign currency effects, despite increased SG&A expenses and increased depreciation expenses related to new plant start-up.

Net sales & other operating revenue for the quarter grew 27.3% to 2.890 trillion yen, from last year's 2.271 trillion yen, due mainly to increased revenue in automobile and motorcycle business operations, as well as favorable foreign currency translation effects.

For fiscal 2014, the company still expects net income attributable to the company to be 580 billion yen, operating income of 780.0 billion yen, and net sales and operating revenue of 12.10 trillion yen.