Japanese car manufacturer Toyota has announced its largest quarterly profit in 2 years, with sales recovering as the firm tries that will put the recall of millions of vehicles behind it.
Toyota made a net profit of 190.4bn yen ($2.2bn; £1.4bn) in the 3 months to June, bouncing back from a 77.8bn yen loss in the same period in 2009.
Group revenues increased 27% on a year ago to 4,872bn yen.
The company also raised its sales and profit forecast for the full year.
Toyota now expects to sell 7.38 million vehicles worldwide and produce a net profit of 340bn yen in its financial year, which runs from April 2010 to March 2011.
In May, the company forecasted sales of 7.29 million and a profit of about 310bn yen, though, analysts have greater expectations.
“The fact that they lifted their forecast is good, but it still seems a bit weak, and I wonder if this isn’t a bit too conservative,” commented Hiroaki Osakabe at Chibagin Asset Management in Tokyo