Tokyo: Japanese electronics giant Panasonic on Thursday said its full-year net profit surged, helped by growth in its automotive-related business. The Osaka-based company said net profit for the fiscal year to March rose 58 per cent to 236 billion yen (Dh7.9 million, $2.1 million), up from 149 billion yen in the previous year. Operating profit jumped 37.5 per cent to 381 billion yen while sales rose 8.7 per cent to 7.9 trillion yen, the company said.
It forecast net profit would climb 5.9 per cent to 250 billion yen with sales rising 4.0 per cent to 8.3 trillion yen for the coming year. “Increases in both sales and profit were achieved for fiscal 2018 due mainly to growth in the automotive and industrial-related businesses,” the company said in a statement, adding that exchange rates also contributed to increased revenue.
