Honda sees full-year profit rising 15% after missing forecasts in Q4

Japan's Honda on Thursday forecast a 14.9% rise in operating profit for this business year, after it missed analysts' estimates in the fourth quarter.

Japan's second-biggest carmaker forecast full-year operating profit rising to 1.0 trillion yen (roughly R140.2bn) compared with a 985.62 billion yen (roughly R139.1bn) average profit expected by 21 analysts. It said it expected higher sales volume and to benefit from a strengthening supply chain.

Operating profit for the three months to March 31 stood at 105.5 billion yen (roughly R14.9bn), compared to an average estimate of 164.78 billion yen (roughly R23.3bn) in a poll by 11 analysts by Refinitiv.