Japan's Honda reports 63% jump in profits

PanARMENIAN.Net - Japan's Honda Motor has reported a 63% jump in profits, thanks in part to a recovery in sales in the U.S. market, according to BBC News.

The carmaker made a net profit of 77.4bn yen ($851m) in the final three months of 2012, up from 47.6bn yen in the same period a year earlier.

The firm said its profits were also boosted by a continued recovery from the floods in Thailand in 2011.

The floods meant production at its factories in Thailand had to be stopped, which impacted sales. However, the firm has recovered from that setback, as well as from the earthquake and tsunami that hit Japan in March 2011.

Earlier this week, it reported record sales of 3.82 million vehicles for 2012, a jump of 19% from a year earlier.