TOKYO: Japanese electronics conglomerate Mitsubishi Electric Corp reported yesterday a big jump in operating profit for its third quarter as a recovery in capital investment boosted demand for its factory equipment.
It said its group operating profit, which shows a company’s core earnings strength, totalled 27.3 billion yen (US$258.3mil) for the three months to December 2003, compared with just 6.12 billion yen a year earlier. Net profit grew almost 10-fold to 11.06 billion yen although sales slipped 5.3% to 746.81 billion yen.
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