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Toyota’s profit surprises

Toyota’s profit surprises

05/11/09 19:52 CET

Cars

corporate

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Toyota has reported an unexpected quarterly net profit of 162 million euros and slashed its forecast for annual losses by more than half.

The world’s number one carmaker credited a sales boost from government incentive programmes and cost cutting. Toyota is the latest Japanese carmaker to turn a profit from savings and improved manufacturing efficiencies, offsetting the damaging effects of a stronger yen.

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tags: Cars, Profits, Toyota