Mitsubishi posts rise in profits

Tokyo-based manufacturer Mitsubishi Motors managed to make a profit for the first quarter - despite the impact of the twin disasters that hit Japan in March.

The car maker, which suffered a loss of 11.8 billion yen (£93.5 billion) in 2010, has reported a better-than-expected profit of 4.3 billion yen (£34 million) during the three months that ended June 30 of this year.

Due to growth in emerging markets, the consolidated net sales during the first quarter of fiscal 2011 increased by nearly 7% to 431.9 billion yen (£3.4 billion).

The latest boost has encouraged the firm, which manufactures the i-MiEV electric car, to increase its first-half forecast.

However, the firm has not changed the annual forecast that stands at 20 billion yen (£158.4 million) profit, indicating the economic uncertainty still seen on a global level.

Copyright © Press Association 2011