Business News

Mitsubishi Motors sees record operating profit in fiscal 2007

Apr 25, 2008, 7:36 GMT

Tokyo - Mitsubishi Motors Corp saw record operating profit for the fiscal year 2007 that ended in March, the company said Friday. Operating profit more than doubled to 108.6 billion yen (1.04 billion dollars) from 40.2 billion yen from a year earlier, and net profit rose more than fourfold to 34.71 billion yen from 8.75 billion yen on sales of 2.68 trillion yen, up 21.8 per cent. The Japanese automaker's global sales were up 10.5 per cent in fiscal 2007 to about 1,359,000 vehicles. While domestic sales declined 11.3 per cent, overseas sales grew 4.7 per cent in North America, 20.6 per cent in Europe, and 16.8 per cent in the rest of Asia and other regions. For the current business year through March 2009, Mitsubishi expects a net profit of 20 billion yen and an operating profit of 60 billion yen on sales of 2.65 trillion yen, the company said.

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