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Honda records fifth consecutive record first-half sales and profits

In the first half of the financial year Honda Motor Company has achieved a fifth consecutive all-time sales record.

Consolidated operating income was almost same level as the same period in 2004, mainly due to increased revenues, cost reduction efforts and the positive impact of depreciation of the Japanese Yen.

These factors offset an increase in selling, general and administrative expenses and R&D expenses. Honda’s consolidated net income was a record high for the fifth consecutive fiscal first half.

The forecast for the fiscal year has been revised upwards and Honda aims to set a sixth consecutive all-time record for net sales and other operating revenue as well as a fifth consecutive all-time record for net income.

Results for Honda’s fiscal first half ended September 30, 2005 included net sales and other operating revenue up 10.5% at 4,166.7bn Yen (£20.3bn), operating income flat at 332.9bn Yen (£1.6bn), and pre-tax profit down 7.6% at 339.6bn Yen (£1.7bn). Net profit was up 1.2% at 241.3bn Yen (£1.2bn).

Record unit sales were achieved in the car and power product business areas, with sales of 1.674m units (+6.9%) and 3.425m power units.

Honda now forecasts a sixth consecutive all-time record for consolidated net sales and other operating revenue based on all-time record unit sales plans for motorcycles 10.570 million units, cars 3.425 million units and power products 5.86 million units.

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