Panasonic logs first annual profit in three years
Panasonic has reported its first annual profit in three years, with improved operating profit and higher sales.
The maker of the Lumix camera posted profits of 120.4 billion yen for the year to March, compared with a 754 billion yen loss a year earlier.
The Japanese consumer electronics giant also said cost cutting had boosted its profitability, the BBC reports.
Panasonic is forecasting a 16 percent jump in net profit to 140 billion yen for the current financial year. This increase is based on the economic recovery in the US and Europe, the report added.
(Posted on 29-04-2014)