Honda Motor, Japan's second largest car maker, has reported a profit of $2.87 billion for the year to the end of March. This was almost double the figure for the previous year.
In a further indication of the industry's rebound from the economic slump, Honda said profit for its fourth financial quarter amounted to 72 billion yen ($770m), from a 180 billion yen loss the previous year.
Fourth quarter revenue rose at an annual rate of 27.8%, driven by car sales that were 28.5% higher compared with the same time last year.
Revenue for the full year was down 14.3%, however, from the previous year, mainly because of a stronger yen against the US dollar. Honda forecast a 26.7% increase in profits for the current financial year.
