Mitsubishi reports first profit in 4 years

[Plex]

Mitsubishi reports the first profit in four years helped by improved sales and a relatively weak yen. The reported net profit of 8.7 billion yen ($73 million) for fiscal 2006, a reversal from the 92-billion-yen loss it reported the previous year.

It was the first time since fiscal 2002 the Japanese automaker, which has been fighting to regain consumer trust devastated by a recall scandal several years ago, managed to earn money. Annual sales rose 4 percent to 2.2 trillion yen ($18.5 billion).

Tokyo-based Mitsubishi Motors forecasts that it will earn 20 billion yen ($169 million) on 2.43 trillion yen ($20.5 billion) sales for the fiscal year ending March 2008, it said in a statement.

Topspeed

[THE SCRIBE]

nice pic dey
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THE DREADED, MUCH FEARED AND SELDOM EVER SEEN SCRIBE

[Rudman]

Its nice to know Mitsubishi has turned adversity around, and will continue to make great cars!.....
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[Plex]