Star’s front row seat for sporting history
- Local newspaper week
Honda announces £1 billion loss
Tuesday 28th April 2009, 9:40AM BST.
The Japanese carmaker Honda has announced losses of over £1 billion for the fourth quarter of the financial year.
The company also confirmed sales dropped by a dramatic 35 per cent, but claimed its annual results were still above target.
Honda claimed its net profit for the year to March was £1 billion, almost twice the £570 target set in January.
For the current quarter, up to June this year, the company has said it expects to make a further £780 million loss.
The current economic crisis forced Japan’s second-largest car manufacture to pull out of formula one before the start of the current season.
Honda claims it managed to restrict greater losses by cutting spending as well as research and development funding.
Sponsored Links
Shropshire Star on Twitter
Keep updated with the latest breaking news and content on our Twitter feed.
Lifestyle
Interactive Dining Out map
Hundreds of reviews by the Shropshire Star and Express & Star's teams to help you decide where to eat.
LIVE traffic updates
Road, rail and airport - latest
Our new, live traffic and travel updates service - check before you set out.
OUR NEW APP
Get the new Shropshire Star app
Download the Shropshire Star’s new app to your iPad or iPhone to get one week of access to our digital newspapers absolutely FREE.
shropshirestar.com
Popular sections
Useful links
