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Wednesday April 25, 2:14 PMHonda Q4 down, sees decline this yearTOKYO, April 25 (Reuters) - Honda Motor Co. posted a 19.7 percent drop in fourth-quarter net profit on Wednesday after a big one-off gain a year ago and projected a tough year ahead if the yen firms and hurts export earnings.January-March net profit at Japan's No.2 automaker fell to 176.18 billion yen ($1.49 billion), exceeding a consensus market estimate for 148.7 billion yen. Quarterly operating profit fell to 250.22 billion yen, down 26.6 percent from the previous year when it booked a 138 billion yen one-off pension-related gain. For the year to March 2008, the Tokyo-based carmaker forecast a net profit of 575 billion yen, down from 592.32 billion yen in 2006/07 and against an average forecast of 641.4 billion yen in a survey of 16 brokers by Reuters Estimates. Honda, which is due to launch an all-new version of its flagship Accord sedan later this year, projected operating profit of 770 billion yen. Honda shares fell 13 percent in January-March, underperforming Tokyo's transport sector subindex , which lost 6 percent. |
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