Toyota lifts forecasts after record first-half

0 Comments | AFP, November, 2007

TOKYO (AFP) — Japan's Toyota Motor Corp. reported Wednesday record first-half operating profit and lifted its full-year forecasts as it enjoys brisk sales overseas, particularly in emerging markets.

A pioneer of eco-friendly hybrids, Toyota also raised its sales target to more than 8.9 million vehicles this year as it vies with Detroit giant General Motors to be the world's best-selling automaker.

Operating profit rose 16.3 percent rise to 1.27 trillion yen (11.1 billion dollars) in the six months to September, helped by a weaker yen which is positive for export earnings, a company statement said.

Net profit jumped 21.3 percent to 942.41 billion yen as revenue grew by 13.4 percent to 13.01 trillion yen.

"We've kept high levels of profits and sales in...