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Matsushita rides high thanks to flat-panel TV demand

February 5th, 2007 · No Comments

Matsushita, parent of Panasonic, has posted a robust set of financials, thanks to red hot plasma and digital camera sales. The company reported a 5 per cent rise in profit for Q3, while consolidated group sales for the second quarter increased 2 per cent to 2,252.6 billion yen.
In its latest trading statement, Matsushita maintains that ‘there remains a severe business environment due primarily to rising raw materials prices and continuous price declines mainly in digital AV products caused by intensified global competition’ however negative factors were more than offset by comprehensive cost reduction efforts. Consolidated first half results were boosted by a sharp European demand for and flat-panel TVs. The company’s operating profit for the first fiscal half increased 21 per cent to 207.4 billion yen. Net income soared 79 per cent to 115.1 billion yen.

Tags: LCD TV · Plasma · Trade

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