Panasonic posts $2.4-bn profit in first nine months

DPA Updated - February 04, 2014 at 05:14 PM.

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Japanese electronics firm Panasonic Corp posted a net profit for the first nine months of the current fiscal year, the firm said on Tuesday, thanks in part to a weaker yen and restructuring efforts.

The company said it had made a profit of ¥243 billion ($ 2.4 billion) in the period April to December last year.

The figure compares to a loss of ¥623.8 billion for the corresponding period of the previous year.

Sales rose by 4 per cent to ¥5.68 trillion over the nine months, the company said.

The firm did not change its full-year profit forecast, which remained at ¥100 billion.

Published on February 4, 2014 11:42