|Tuesday, 1 August 2017, 15:45 HKT/SGT|
TOKYO, Aug 1, 2017 - (JCN Newswire) - Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal first quarter ended June 30, 2017.
Consolidated operating profit for the fiscal first quarter (April 1, 2017 through June 30, 2017) amounted to 269.2 billion yen, an increase of 0.9% compared to the same period last year, due to profit-increasing factors such as an increase in profit related to changes in sales volume and model mix and cost reduction efforts. This was despite profit-reducing factors such as an increase in selling, general and administrative (SG&A) expenses. Consolidated profit before income taxes for the fiscal first quarter amounted to 335.0 billion yen, an increase of 16.1% compared to the same period last year. Consolidated profit for the fiscal first quarter attributable to owners of the parent amounted to 207.3 billion yen, an increase of 18.7% compared to the same period last year.
Reflecting the favorable currency effects recorded during the fiscal first quarter, the following upward revisions were made to the previously announced consolidated financial forecasts for the current fiscal year (April 1, 2017 through March 31, 2018). The forecast for consolidated sales revenue was revised upward by 300.0 billion yen to 14.5 trillion yen, operating profit was revised upward by 20.0 billion yen to 725.0 billion yen, and the forecast for profit for the current fiscal year attributable to owners of the parent was revised upward by 15.0 billion yen to 545.0 billion yen.
The quarterly dividend for the fiscal first quarter will be 24 yen per share (an increase of 2 yen per share compared to the same period last year), and total dividends to be paid for the fiscal year ending March 31, 2018 are expected to be 96 yen per share (an increase of 4 yen per share compared to the previous fiscal year).
Honda Motor Co., Ltd. (TSE:7267 / NYSE:HMC / LSE:HNDA) is one of the leading manufacturers of automobiles and power products and the largest manufacture of motorcycles in the world. Honda has always sought to provide genuine satisfaction to people worldwide. The result is more than 120 manufacturing facilities in 30 countries worldwide, producing a wide range of products, including motorcycles, ATVs, generators, marine engines, lawn and garden equipment and automobiles that bring the company into contact with over 19 million customers annually.
For more information, please visit http://world.honda.com.
Aug 1, 2017 15:45 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
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