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Mitsubishi releases first quarter fiscal figures

The fiscal first quarter performance of Japanese motor manufacturer Mitsubishi has been announced by the firm.It stated that it made around 610.1 billion yen (£2.9 billion) over the course of the period in consolidated net sales.An increase of 13.6 billion yen compared to the corresponding quarter of 2007 was also made in ordinary profit, with 16.2 billion recorded in total.The firm's performance in Europe saw some 92,000 Mitsubishi Motors units picked up by consumers - a 14 per cent increase which may be mirrored by an increase in the amount of car insurance policies sold."An increase in earnings resulting from improvements in the model mix was more than offset by a decrease in sales volume and the effects of a stronger yen exchange rate," said the firm.Mitsubishi was established as a shipping firm in 1870 but is now a conglomerate company consisting of autonomous companies.

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