Honda Motor has posted a sixth consecutive all-time record for consolidated net sales and other operating revenue due to increased sales revenue in all business areas for its fiscal first half.

Revenue was up 13.7% to JPY5230.5bn, operating income rose 19.1% to JPY 396.5bn, pre-tax income was up 10.3% to JPY345.8bn and net income rose 11% to JPY271.3bn.

Honda noted that its operating income increased due to increased profit from higher revenues, and the positive effects from the depreciation of the yen, despite the changes in the model mix, soaring raw materials costs exceeding continued cost reduction efforts and an increase in selling, general and administrative (SG&A) expenses.

The automaker nonetheless set an all-time record for first half results for operating income, income before income taxes, net income and equity in income of affiliates.

At its board meeting in Tokyo on 25 October, Honda set an interim dividend of 30 yen, and planned to introduce quarterly dividend in the third quarter, payable 31 December, to allow for more frequent payouts to its shareholders. The third quarter dividend will be 17 yen per share. With a year-end dividend of 17 yen, the total dividend for the current fiscal year will be 64 yen per share.

All-time first half record unit sales were set in the automobile and power product business areas.

Automobile sales rose 6.3% to 1.78m units due mainly to a rise in sales in North America and Asia.

Motorcycle sales rose 2.5% to 5.196m units due mainly to sales growth in India and Brazil.

Honda aims to achieve JPY11 trillions of consolidated revenue for the fiscal year ending 31 March, 2007, up 11% to a seventh consecutive all-time record, based on the unit sales plans of 10.71m motorcycles, 3.7m automobiles and 6.255m power products.

It is forecasting a drop in operating income of 5.6% to JPY820bn and net income off 7% to JPY555bn.

Auto market intelligence
from just-auto

• Auto component fitment forecasts
• OEM & tier 1 profiles & factory finder
• Analysis of 30+ auto technologies & more