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Canon Q4 profit up 17 %


Whilst Sanyo and Sony are downgrading their projected earnings Canon seems to be going from strength to stregth reporting a record year for the fifth year in a row.


'Canon Inc. posted a 17 percent rise in quarterly operating profit on Friday due to strong sales of colour copiers, laser printers and digital cameras and forecast record earnings for a fifth straight year.

Earnings at Canon have been driven by a business switch from monochrome to more profitable colour copiers, and strong sales of laser printer engines to U.S.-based Hewlett-Packard Co.

Canon, the world's top producer of laser printers when its HP-badged output is included, said it expected group operating profit to rise 5.4 percent to 573 billion yen ($5.57 billion) in 2005 on a 4.7 percent gain in sales to 3.63 trillion yen.

The profit forecast, while representing a deceleration in growth, was above the consensus figure of 548 billion yen in a poll of 17 analysts by Reuters Estimates taken before the announcement.'

Read more at Reuters | Canon Q4 profit up 17pct, sees record for 5th year







Posted by Darren in our News category on January 29, 2005