Toyota Motor Corp's group operating profit for the year that ended on March 31 could reach around 100 billion yen ($1.1 billion), the Yomiuri newspaper said on Sunday, days ahead of the firm's May 11 earnings report.The world's biggest automaker, hit by a series of recalls and incidents that damaged its reputation for quality, would beat its loss forecast helped by government incentives to boost sales and by cost-cutting efforts, Yomiuri reported, without citing sources.Toyota slashed its operating loss forecast to 20 billion yen from 350 billion yen in February after it posted an operating profit of 189 billion yen in the three months to December.Average forecasts out of a pool of 21 analysts compiled by Thomson Reuters I/B/E/S showed that the automaker is expected to have logged a 46 billion yen operating profit for the 2009/10 business year.Toyota's U.S. vehicle sales rose nearly 13 percent for the year-to-date through April despite the massive recalls.(Reporting by Yoko Kubota; Edingg by KLim Coghill)News posted by www.newsinfoline.com
Click here to read more news from www.newsinfoline.com
Please follow our blogs
newsinfolinephotogallery
prabugallery
newsinfolinephotogallery1
photogallery1
No comments:
Post a Comment