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Toyota sees net profit tumble, withholds forecast

TOKYO : Japan 's biggest automaker Toyota on Tuesday said first half net profit tumbled 71.8 percent from a year earl
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By Shoaib Ur Rehman
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toyotaTOKYO: Japan's biggest automaker Toyota on Tuesday said first half net profit tumbled 71.8 percent from a year earlier due to the impact of the March earthquake and tsunami on production and a strong yen.

It swung to a first half operating loss of 32.6 billion yen ($418 million at current rates) compared with a year earlier profit of 323.1 billion yen.

Toyota withheld its annual earnings forecast as it continues to assess the impact of flooding in Thailand on its operations.

 

Copyright AFP (Agence France-Presse), 2010

 

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