Toyota Revs Up Profits with Buoyant Sales ; Automotive

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Toyota, already the world's most profitable carmaker, yesterday reported a 2.7 per cent rise in quarterly operating profit thanks to a weaker yen, stronger sales and cost cuts and nudged up its full- year forecasts.

Earnings for the July-September period rose to 597 billion yen (pounds 2.5 billion) from 581 billion yen a year ago, but was slightly short of a consensus estimate of 602 billion yen in a poll of six brokerages by Reuters Estimates. The weaker yen added 50 billion yen (pounds 209 million), while better sales and cost reductions - net of higher raw materials prices - together contributed 60 billion yen (pounds 251 million).

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Toyota Revs Up Profits with Buoyant Sales ; Automotive

At EUR200 billion (pounds 96 billion), Toyota's market capitalisation is about 10 times that of General Motors, still the world's biggest carma...

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