Matsushita reports improved profits

Matsushita has come out with their latest revenue report and their profits have more than doubled in the first quarter of the year.

The company gained from strong sales of their mobile phones and television sets.

Matsushita Electric Industrial reported that their earnings were up at 61.6 billion yen from 23.4 billion yen in the same period last year.

The sales were however down from 2.282 trillion to 2.199 trillion yen. The company said that this was mostly due to exclusion of revenues of Victor Company of Japan which is now an affiliate company rather than a subsidiary.

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