Honda Motor H1 Earnings Fall, But Revenue Rises; Lifts Annual Guidance

Honda Motor Co., Ltd. (HMC), the Japanese automobile major, on Wednesday posted a decline in earnings for the six-month period to September 30, that reflected a decrease in the share of profit of investments accounted for using the equity method. However, the company registered a rise in sales revenue.

In addition, the Tokyo-headquartered firm has raised its guidance for the full-year.

For the first-half, the firm posted a profit attributable to owners of the parent of 338.5 billion yen, compared with 389.2 billion yen a year ago. Pre-tax income was at 515.8 billion yen, lesser than last year's 560.3 billion yen.

Operating profit moved up to 453.4 billion yen from 442.1 billion yen, posted for the first-half of 2021.

Sales revenue also climbed to 8.085 trillion yen from 6.988 trillion yen of previous fiscal.

Looking ahead, for the 12-months to March 31, 2023, Honda expects to post a profit attributable to owners of the parent of 725 billion yen, a rise of 15 billion yen compared with the previous forecast.

For the full-year, the automotive firm projects its sales revenue to be at 17.400 trillion yen, a rise of 650 billion yen from previous forecast.

The company still expects to pay an annual dividend of 120 yen per share.

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