By REUTERS
Honda Motor Co reported on Friday a 22.3% fall in operating profit due to higher quality-related costs, which include costs for airbag recalls, and a negative currency impact.
Japan’s third-largest automaker posted a nett profit of 124.1 billion yen (RM4.38 billion) in the October-December quarter, down 18.5% from 152.3 billion a year ago and less than an average estimate of 148.90 billion yen drawn from forecasts by nine analysts, according to Thomson Reuters I/B/E/S data.
Operating profit fell to 163 billion yen from 210 billion during the same quarter a year ago.
While sales revenue rose 3.4%, Honda pared its outlook for full-year sales revenue due to expectations that it would sell less cars in Asia and Japan than previously forecast.
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