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Honda profit up 18%

Tokyo - Honda Motor Co said Tuesday its net profit for the July-to-September period rose 17.9% from a year earlier to ¥141.9bn ($1.32bn), thanks to a weaker yen and cost-cutting measures.

Japan's third-largest carmaker said its operating profit for the quarter fell 4.1% from the same period last year to ¥164.4bn, while sales were up 10.2% to ¥3.01 trillion.

Honda cut its net profit forecast for the current financial year to ¥565bn, compared with ¥600bn predicted three months ago.

The carmaker also slightly revised down its sales outlook to ¥12.75 trillion from ¥12.8 trillion it had estimated in July, while maintaining its operating profit forecast at ¥770bn.

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