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October 26, 1997updated 03 Sep 2016 8:30pm

MATSUSHITA COMMUNICATION FIRST HALF BEATS PREDICTIONS

By CBR Staff Writer

Matsushita Communication Industrial Co posted a 25% increase in pretax profit to 28bn yen ($231m) for its fiscal first half, which ended in September, according to the Nihon Keizai Shimbun. The results came in ahead of an earlier prediction of 26bn yen. The company attributed the improved performance to strong sales of cellular phones and other mobile communications equipment. Sales for the half year increased 11% to 338bn yen ($2.79bn) and net profit soared 86% to 16bn yen ($132.2m) in spite of a decline in unit sales prices. For the full year through March 1998, the company projects a pretax profit up 6% at 60bn yen ($495.8m) on sales up 5% at 700bn yen ($5.79bn).

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