Aug 3, 2018
Toyota surprises with 7.2% jump in quarterly profits
Japanese car giant Toyota has posted a 7.2% jump in quarterly net profits, beating expectations and surprising analysts. "Toyota has been doing very well in parts of Asean," Janet Lewis, head of industrials and transportation in Asia for the Macquarie Group, told the BBC. "Particularly in Thailand, where Toyota is having a very strong year. And that has been supportive, because margins in Asean tend to be very good," she said. Toyota said its operating income increased from 574.2bn yen to 682.6bn yen - a jump of 18.87%. But the firm maintained that its full-year net profit would come in 2.12tn yen as trade war worries continue. In China, where Toyota had been lagging Honda and Nissan over the last couple of years, Ms Lewis said Toyota was now doing "Extremely well". In May, Toyota posted a record full-year net profit of 2.5 trillion yen on, up 36.2% from a year earlier.
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