TOKYO (dpa-AFX) - Mitsubishi Heavy Industries, Ltd. (MHVYF.PK), a Japanese engineering, electrical, and electronics company, on Tuesday reported a rise in net profit for the first quarter, helped by increased revenue.
For the three-month period to June 30, Mitsubishi Heavy Industries registered a net profit of JPY 68.227 billion, or JPY 20.31 per share, higher than JPY 62.286 billion, or JPY 18.52 per share, in the same period last year.
Profit from business activities stood at JPY 104.162 billion as against the prior year's JPY 83.528 billion.
Revenue was JPY 1.193 trillion, up from JPY 1.111 trillion in the previous year.
Revenue from the Energy Systems business stood at JPY 423.2 billion, up 31.7% from the same period last year.
Looking ahead, for the full year, Mitsubishi Heavy Industries has reaffirmed its outlook.
The company continues to expect a net income of JPY 260 billion, up 5.9% from last year. Income per basic share is still anticipated to be at JPY 77.43.
Mitsubishi Heavy Industries still projects revenue of JPY 5.400 trillion, up 7.4% from the previous year.
The company still aims to pay a total annual dividend of JPY 24 per share, up from last year's JPY 23 per share.
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