Mitsubishi Electric logs 19% net profit growth in 1st business quarter
www.chinaview.cn 2008-07-28 17:18:55   Print

    TOKYO, July 28 (Xinhua) -- Mitsubishi Electric Corp. registered an increase of 19 percent year-on-year in its net profit for the April-June period to 55.28 billion yen (511.85 million U.S. dollars), the Japanese electrical machinery maker said Monday.

    The withdrawal from the intensely competitive mobile phone business and a rise in the sales of household electric appliances are key factors pushing up its net gains, Mitshubishi Electric said.

    The company also reported a 2 percent rise in its operating profit to 67.43 billion yen (624.35 million dollars) with its sales up 1 percent to 879.04 billion yen (8.14 billion dollars), according to its consolidated earnings report for the first quarter of the current 2008 business year starting in April.    

Editor: Pliny Han
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