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Honda quarterly profit up 46 percent on US sales

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October 30, 2013 04:49 AM EST | AP


TOKYO (AP) — Honda Motor Corp. says its quarterly profit rose 46 percent in the latest quarter as higher car sales in the U.S. and motorcycle shipments to Asia offset costs from plant openings.

Revenue rose 27 percent in the July-September quarter to 2.89 trillion yen ($29.4 billion), with net income at 120.3 billion yen ($1.2 billion).

The company maintained most of its forecasts for the fiscal year that ends next March, though it cut its target for sales to 17.3 million vehicles from 17.4 million.

Honda's net profit in the first half of the fiscal year rose 13.5 percent from a year earlier to 242.8 billion yen ($2.47 billion) on 5.7 trillion yen ($58 billion) in sales.