Honda posts quadrupled profit in Apr-JuneJuly 31, 2012 - 14:28 AMT PanARMENIAN.Net - Japanese car giant Honda has said April-June profits quadrupled to 131.7 billion yen (£1.07 billion) as it bounced back from last year's natural disasters, Belfast Telegraph reported. The Tokyo-based company, which makes the Fit subcompact, Odyssey minivan and Asimo walking robot, reported a 42% surge in quarterly sales to 2.44 trillion yen (£19.8 billion). The earthquake and tsunami in north-eastern Japan and the flooding in Thailand last year disrupted parts supplies and production for all Japanese car-makers. Honda said solid sales offset the damage from the strong yen, which erodes overseas earnings, as well as higher research expenses. It stuck to its forecast of 470 billion yen (£3.8 billion) profit for the fiscal year through March 2013. That would be double what it earned last year. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | 17 bridges collapse as a result of floods in Armenia As a result of floods in Armenia’s northern Lori and Tavush provinces, 17 bridges, including five large ones, have collapsed. Armenia: Top cleric to retain title as he bids to become interim PM Galstanyan said earlier that the interim government would be tasked with stopping the “destruction of our homeland”. Ex-mayor of Karabakh capital arrested in Yerevan Ex-mayor of the Nagorno-Karabakh city of Stepanakert David Sargsyan has been arrested for 20 days. 269 people evacuated amid severe floods in Armenia’s north According to the Interior Ministry, 269 people have been evacuated from their homes in Lori and Tavush provinces. |