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Toyota 1st-half net profit up 16%, lifts full-year forecast

TOKYO: Japanese car giant Toyota upgraded its full-year forecast Tuesday, as the firm posted a 16 percent gain in net profit for the six months to September thanks to steady global sales and cost-cutting efforts.
The maker of the Camry sedan and Prius hybrid revised upward its net profit forecast to 2.3 trillion yen ($20.3 billion) from its earlier estimate of 2.12 trillion yen for the year to March 2019.
But even if the firm hits this forecast, profits would still be lower than the record 2.49 trillion yen posted for the previous fiscal year.
In the April-September period, Toyota’s bottom-line profit rose 16 percent to 1.24 trillion yen, beating a 10 percent gain forecast by analysts. Sales for the first half increased 3.4 percent to 14.7 trillion yen.

 

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.