Honda profits hit by Thai floods

Battered by the strong yen and supply disruptions due to Thailand’s floods, Honda said today that its net earnings in the October-December quarter tumbled 41% to 47.6bn yen (€473.74bn) and projected a sharply lower full-year profit.

The Japanese car and motorcycle maker forecast it would earn 215bn yen (€2.14bn) for the year to March, down nearly 60% from the 534bn yen (€5.31bn) it earned in the previous financial year.