Toyota says full-year net profit triples to $12 billion

TOKYO (AFP) - Toyota on Wednesday said its full-year net profit more than tripled to $9.7 billion, with the world's largest automaker also saying it was on track for another soaring profit in the current fiscal year.

The Japanese giant earned 962.1 billion yen (S$12 billion), up from 283.5 billion yen a year earlier, on sales of 22.0 trillion yen, an increase of 18.7 per cent on-year.

Toyota added that it expected to earn a net profit of 1.37 trillion yen for the fiscal year ending March 2014.