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Honda reports soaring profits, predicts another record profit year
 Date: February 03, 2003 13:53
 Submitted by:  JeffX
 Source: AP
 Credibility Rating: N/A


By YURI KAGEYAMA, AP Business Writer

TOKYO - Japanese automaker Honda Motor Co. posted a 40 percent surge in profits during the latest quarter on solid sales in North America and forecast on Friday a record year of profits for the second year in a row.

For the October-December period, Japan's No. 2 automaker recorded a profit of 115 billion yen (US$966 million), up from 82 billion yen the same period a year ago. Sales climbed 13 percent to 1.989 trillion yen (US$16.7 billion) from 1.756 trillion yen.

The Tokyo-based company predicts 430 billion yen (US$3.6 billion) in profits for the fiscal year ending in March ? up 19 percent from 363 billion yen in fiscal 2001 and heralding another record year of profits.

Fiscal 2001 had been the best-ever profit year for Honda following the previous record in the year ended March 1999.

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