Toyota to double full-year profit forecast to more than $9.7 billion – media



© Reuters.

TOKYO (Reuters) – Toyota Motor Corp (T:) will likely more than double its full-year operating profit forecast when it reports second quarter earnings on Friday as vehicle sales rebound in the United States and China, the Mainichi daily reported.

Japan’s top automaker is likely to project an operating profit of more than 1 trillion yen ($9.66 billion) for the year to March 31, 2021, from the 500 billion yen (£3.6 billion) projected in August, the Mainichi said, without citing sources.

A Toyota spokesman declined to comment on the report.

In its most recent forecast, Toyota predicted a full-year 500 billion yen operating profit, the weakest in nine years, following a slump in demand caused by the coronavirus pandemic.

That compares with a 2.47 trillion yen profit last business year.

The average estimate from 26 analysts polled by Refinitiv is for full-year operating profit of 1.25 trillion yen.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

See also  Yes Bank Needs an Arranged Match, Or It’s No Bank





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here