Honda's Forecast for Profits Rockets After State's Boost

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HONDA, Japan's second-largest carmaker, almost tripled its full- year profits forecast today after state stimulus measures in the company's largest markets boosted demand.

The firm said it expects profits of 155 billion yen (Pounds 1.03 billion) in the year to the end of March compared with an earlier forecast of 55 billion yen. It came after Honda reported profits of 54 billion yen in the second quarter although this was still down 56% on a year earlier. Honda, Toyota and Nissan have raised sales outlooks in Japan and China as governments offer rebates and tax cuts for new, fuel-efficient cars to revive flagging demand.

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Honda's Forecast for Profits Rockets After State's Boost

"Honda's hybrid mo...

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