Toyota reports a surprising quarterly profit and slashed its annual loss forecast
tryme submitted on 11/6/2009 Official Bell & Ross Timestamp: 1:15:21 PM
0 user comments | Category: Misc News | Source: | SOURCE: www.4wheelsnews.com
It would be an understatement to say that many were surprised that Toyota Motor Corp.
had recorded a quarterly profit. It appears that Toyota is now on track to continue with this success similar to what its Japanese rivals have experienced.
The quarterly profit cuts its annual loss forecast by more than half. The rise in sales and the cost-cutting measures certainly factored into this scenario. Toyota currently expects an operating loss of 350 billion yen ($3.9 billion) for the year to March 31, closer to an average projection of a 293 billion yen loss in a poll of 22 analysts by Thomson Reuters. Instead of a loss of 450 billion yen, Toyota now expects a net loss of 200 billion yen.
Read Article