Mitsubishi Motors reports strong profit growth for April – December 2012 image

Mitsubishi Motors Corporation has posted a net profit up 27 percent for the nine months to December, due to higher sales in Asia and cost cuts.

Mitsubishi Motors Corporation (MMC) posted an ordinary income of 52.4 billion yen, an increase of 81 percent (23.5 billion yen) over the first three quarters of fiscal year 2011. The company also posted a net income for the term of 17.3 billion yen, an increase of 27 percent (3.7 billion yen) year on year.

MMC posted a consolidated net sales of 1,282.6 billion yen ($13.82 billion) for the first three quarters of fiscal year 2012 (April 1 – December 31 2012), a 1 percent (10.5 billion yen) decrease over the same period last fiscal year. Although Mitsubishi’s wholesale volume increased, the decrease was mainly due to the impact of the strong yen.

MMC posted an operating income of 40.9 billion yen, an increase of 6 percent (2.4 billion yen) over the same period last fiscal year. According to Mitsubishi, the increase was due mainly to higher sales volume, improvements in the model mix and reductions in materials and other costs.

Global retail sales volume for the first nine months of fiscal 2012 totalled 724,000 units, a decrease of 4 percent or 31,000 units over the same period last fiscal year.