Toyota’s quarterly profit tripled, driven by a recovery from natural disasters, and the company raised its full-year earnings forecast despite a sales slump in China.

Yesterday, the firm reported a July-September net profit of 257.9 billion yen (€2.48 billion) compared with an 80.4 billion yen (€778 million) profit a year earlier.

Japan’s top carmaker raised its profit forecast for the full fiscal year through March 2013 to 780 billion yen (€7.6 billion) from 760 billion yen (€7.3 billion). It had a profit of 283.5 billion yen (€2.6 billion) in the previous fiscal year.

The company’s optimism comes despite a sale plunge in China.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.