Honda posts 13% drop in annual operating profit



The logo of Honda is seen during the 88th International Motor Show at Palexpo in Geneva
FILE PHOTO: The logo of Honda is seen during the 88th International Motor Show at Palexpo in Geneva, Switzerland, March 6, 2018. REUTERS/Pierre Albouy

May 12, 2020

TOKYO (Reuters) – Honda Motor Co <7267.T> on Tuesday posted an 13% decline in annual operating profit as the coronavirus pandemic started to take its toll on global car demand.

Operating profit for the year ended in March came in at 634 billion yen ($5.9 billion), falling short of a consensus estimate of 669 billion yen profit drawn from 19 analysts polled by Refinitiv.

Honda declined to give an earnings forecast for the current business year.

(Reporting by Naomi Tajitsu and Tim Kelly; Editing by Edwina Gibbs)





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