Wealth Management by

Toyota reports record annual income

May 11, 2014 12:49 am

The world’s largest carmaker, Toyota has reported a record $17.9bn annual net profit, driven by a recovery in major markets and the weaker yen, but the Japanese automaker cautioned that earnings growth would stall this year, AFP has reported. Toyota said it had earned a net profit of ¥1.82trn ($17.9 billion) over the fiscal year to March, nearly doubling from a year earlier, as sales rose 16.4% to ¥25.69trn. Operating profit jumped to ¥2.29trn, from ¥1.32trn a year earlier, the company said.