Toyota’s profits, sales rise

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ToyotaLogo REUTERS The Toyota logo is seen at a dealership of Japan's Toyota Motor Corp in Brussels.

Tokyo - Toyota Motor Corp said on Tuesday its net profit in the April-to-June quarter grew 4.6 per cent from a year earlier to 587.7 billion yen (R61 billion) due to a weaker yen and cost-reduction measures.

The world's largest carmaker also posted an operating profit of 692.7 billion yen in the quarter, up 4.4 per cent from the same period last year.

Sales rose 2.2 per cent to 6.39 trillion yen.

Toyota maintained its net profit outlook at 1.78 trillion yen and operating profit forecast at 2.3 trillion yen for the financial year to March 2015, while sales were predicted at 25.7 trillion yen.

“In addition to cost reduction efforts and favourable foreign exchange rates, valuation gains and losses mainly from interest-rate swaps were positive factors. However, changes in model mix and increases in expenses impacted us negatively,” company managing officer Takuo Sasaki said in a statement. - Sapa-dpa

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