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Honda Profits Plunge 88% As Earthquake Hurts Production

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Honda motors has reported an 88% plunge in first-quarter profits after the 11 March earthquake and tsunami.

Honda said it made a net profit of 31.7bn yen ($408m; £248m) compared with 274bn yen a year earlier.

Production at the Japanese carmaker slowed due to a shortage of parts after the twin disasters disrupted the country's supply chain.

However, in a sign that conditions are improving, Honda raised its full-year earnings forecast by 35%.

Given the constraints the company had to work through during the period, the numbers are better than expected, analysts said.

A huge fall.

Luckily the Japanese govt doesn't need the tax revenue.

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  • 337 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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