Honda has announced that its group unit motorcycle sales for the first quarter of its 2016/2017 financial year, the period ended June 30th 2016, were up by +6.02 percent at 4.352m units compared to the year ago quarter.
Despite group sales revenue being down for the quarter (by 233m yen, -6.3%) at 3,417m yen, consolidated operating profit for the fiscal first quarter amounted to 266.8 billion yen, an increase of 11.5% compared to the same period last year. This is described as being due to cost reduction efforts, an increase in profit related to changes in sales volume and model mix, and a decrease in selling, general and administrative (SG&A) expenses (including quality-related expenses).
This was despite unfavourable currency effects and the impact of the 2016 Kumamoto earthquake. Consolidated profit before income taxes for the fiscal first quarter amounted to 288.4 billion yen, an increase of 2.2% compared to the same period last year. Due mainly to an increase in income tax expense, profit for the fiscal first quarter attributable to owners of the parent amounted to 174.6 billion yen, a decrease of 6.1% compared to the same period last year.
Consolidated financial forecasts for the current fiscal year ending March 31, 2017 remain unchanged from the forecasts announced previously.
The quarterly dividend for the fiscal first quarter will be 22 yen per share, and total cash dividends to be paid for the fiscal year ending March 31, 2017 are expected to be 88 yen per share.
