Tuesday, October 31, 2006
Mitsubishi losses narrow
Despite a difficult sales environment, Mitsubishi Motors managed to record a reduced first half loss for 2006.
The Japanese manufacturer posted an operating loss of 5.5bn yen (£24.5m), an improvement of 14.3bn yen (£64m) over the same period last year despite lower global sales volume.
Factors contributing to the improvement were mainly improved sales and model profitability mix in Japan and North America and a one-off gain on investments.
It also stuck with its forecast to return to profitability in the full fiscal year through March 2007 after three straight years of red ink.
DATED: 31.10.06
FEED: MT
The Japanese manufacturer posted an operating loss of 5.5bn yen (£24.5m), an improvement of 14.3bn yen (£64m) over the same period last year despite lower global sales volume.
Factors contributing to the improvement were mainly improved sales and model profitability mix in Japan and North America and a one-off gain on investments.
It also stuck with its forecast to return to profitability in the full fiscal year through March 2007 after three straight years of red ink.
DATED: 31.10.06
FEED: MT
