Japanese high-tech firm Hitachi reported a record profit for fiscal 2010 ended in March.
Hitachi earned a net profit of 238.9 billion yen ($3 billion) in the year ended March 31 against a loss of 107 billion yen the previous year. The result, its first profit in five years, was in line with expectations after the company flagged it on April 27.
Operating profit more than doubled, surging 119.9 per cent to 444.51 billion yen, as sales grew 3.9 per cent to 9.32 trillion yen.
The March 11 quake and tsunami, which damaged some of the company’s production bases, dented its net profit by 75 billion yen, the company said. Sales were reduced by 130 billion yen due mainly to lower shipments.
The company did not give an outlook for the current year to March 2012.
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