Toyota Posts $10.35billion Profit in Six Months

Japanese giant auto manufacturer, Toyota, has posted revenue up by nine per cent and net profit increase by almost 12 per cent from that recorded in 2014.

Toyota reported a half-year leaped in profits last Thursday even as car sales declined in most regions, as it moves to cut costs and squeeze more productivity out of its plants worldwide.

The automaker said its net profit soared nearly 12 per cent to 1.258 trillion yen ($10.34 billion) in the fiscal first half through September, with a weak yen also helping boost the bottom line.

The company’s revenue for the period rose almost nine per cent from a year ago to 14.09 trillion yen ($115.78 billion).

Toyota, however, sold slightly fewer cars globally at 4.98 million units, and trimmed its full fiscal year sales target