Honda has announced financial results for last year, and the figures show significant growth from fiscal year 2012 to 2013. Overall operating income increased 135.5 per cent since FY12 (April 2011 to May 2012), thanks to an up-jump in auto sales in North America, Asia and Japan. New models also contributed to Honda’s success.
Through the fiscal year from April 1st, 2012 to March 31st, 2013, just over four million vehicles were sold, representing an increase of 900,000 cars and 430,000 motorbikes. Consolidated net income for the fiscal year rose 73.6 per cent, amounting to 367.1 billion yen (£2.4b). Cash dividends for Honda investors rose 76 yen per share (£0.50) – a 21 per cent increase.
Things will only get better for Honda. Japan is recovering from widespread earthquake damage and the situation in Thailand continues to improve, following catastrophic flooding in 2011. Also, favourable exchange rates are benefiting the company’s sales. Next year, Honda forecasts a 59.5 per cent rise in consolidated income, bringing total revenue to 780 billion yen (£5.12b). New ranges are performing well already, with sales on track to meet projected levels.
For the first quarter of 2013, Honda has reported a 16.3 per cent increase in sales throughout continental Europe and the UK, despite challenging market conditions. The new CR-V seems to be driving up demand for the brand.
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