Honda posts year-end profit

Honda Motor Co. ran up a $1.9 billion loss during the fourth quarter of the Japanese fiscal year because of lower revenues, higher raw materials costs and unfavorable currency trends. Honda managed, however, to show a $1.4 billion profit for the year ended on March 31 when it reported its full-year results Tuesday. Most of its Japanese rivals have forecast losses for the fourth quarter and for the year because of a global slump in vehicle sales that has pushed two of Detroit's automakers to the brink of bankruptcy. By comparison, Honda's results look good. But, in a sign of how tough the industry has become, its annual earnings amounted to less than a fourth of the previous year's profit.