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Home|Technology|Mitsubishi Electric 6-month Profit Surges

Mitsubishi Electric 6-month Profit Surges

Japanese electrical and electronic equipment maker Mitsubishi Electric Corp. (MIELF.PK, MIELY.PK) Thursday reported a surge in its profit for the half year, with double digit growth in revenues, reflecting higher revenues in Industrial Automation Systems, Home Appliances and Electronic Devices segments.

The Group’s net profit attributable to stockholders surged 117 percent to 104.8 billion yen, while profit before income taxes grew 96 percent to 148.3 billion yen.

Operating profit for the period also surged by 125 percent to 137.8 billion yen, due mainly to strong performances at Industrial Automation Systems and Home Appliances segments.

Mitsubishi Electric generated revenue of 2.14 trillion yen for the first half, an increase of 12 percent over last year. The Group said it witnessed growth in Industrial Automation Systems, Home Appliances and Electronic Devices segments.

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