Despite net losses of €275 million recorded in its annual results, electronics firm Sanyo has said it is showing signs that it may be on in for a financial recovery, reported ElectricNews.
The results for the year ending March 31st 2007 identified sales €13.5 billion, down 7.6 percent from the previous year. However its operating profit rose to €302 million from an operating loss of €105 million a year before.
The firm also forecasted a return to profitability in the current financial year, with sales of €13.6 billion predicted for the year ending March 31st 2008, with a net profit of €122 million.
As news of the results broke, shares in Sanyo jumped 3.2 percent to €1.18.
Advertisement
Follow Follow this article if you would like to receive notifications of updates.
Add a new comment
You need to be logged in to post comments. If you do not have an account then please register.
Comments
0 comments
There are no comments yet, be the first to add one!