Mitsubishi hikes net income by 8% in quarter ended September

Article by Christian A., on October 31, 2014

Mitsubishi Motors Corp. saw an 8-percent surge in its net income in the fiscal second quarter ended Sept. 30, 2014, to JPY32.7 billion ($298.9 million), boosted by good results in North America. The Japanese carmaker saw its revenues lie flat in the quarter at $4.76 billion. According to Mitsubishi, it posted a drop in pretax operating profits in Japan, where sales decline to an increase in taxes.

The carmaker added its pretax operating profits jumped in Europe. The automaker also saw its operations in North America log a turnaround from $8.2 million in operating losses in the same quarter a year ago to $6.4 million in operating profit, with revenues leaping 9 percent to $632.4 million.

Sales in the United States jumped 29 percent in the same period. Mitsubishi also managed to more than double its operating profits in Europe $46.6 million to $100.5 million, with revenues jumping 18 percent to $1.19 billion.

The carmaker, however, logged a 28-percent drop in operating profits in Asia except Japan to $112.4 million, with revenues surging just a percent to $941.2 million.

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