Honda doubles profit forecast, boosted by China rebound

TOKYO (Reuters) – Honda Motor Co 7267.T on Friday more than doubled its full-year operating profit forecast as it reported second-quarter earnings grew 28% amid a rebound in China after auto sales were squeezed by the impact of the coronavirus pandemic.

Japan’s third-biggest automaker said it now forecasts a full-year operating profit of 420 billion yen ($4.06 billion) up from a previous prediction of a 200 billion yen profit.

That was well above an average estimate for a 254.6 billion yen profit compiled from 19 analysts polled by Refinitiv.http://Honda doubles profit forecast, boosted by China rebound. Read more.

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