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Mitsubishi reported a 36 percent jump in operating profit

25 Jul 2018
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Mitsubishi reported a 36 percent jump in operating profit

Mitsubishi’s operating profit reached $253.9 million in the fiscal first quarter. It means the company’s profits jumped 36% in the latest quarter as the automaker's rebound gathered speed on rising sales in every key market.

The robust results were buoyed by new vehicles such as the Eclipse Cross and Outlander PHEV crossovers in the United States and the Xpander MPV in Southeast Asia. Looking ahead, Mitsubishi kept its earnings outlook unchanged. It expects worldwide operating profit to increase 12 percent in the current fiscal year ending March 31, 2019, while net income inches ahead 2 percent. Gains will come from rising sales and stepped-up cost control. Mitsubishi forecasts global retail sales to grow 14 percent to 1.25 million vehicles.

North American retail sales are predicted to expand 19 percent to 184,000 vehicles. European retail sales are seen increasing 8.8 percent to 210,000 vehicles.

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