Japanese electronics company Matsushita Electric Industrial Co Ltd reported a 21 per cent increase in first-half profit on Friday, due to the rising demand of plasma televisions and digital cameras, according to the company, REPORTED DPA. In the six months from April to September, the Japanese manufacturer known globally for its Panasonic brand, said its operating profit reached 207.4 billion yen (1.75 billion US dollars), up from 171.09 billion yen a year earlier, its best level in 16 years. Group net profit for the fiscal second quarter at the Osaka-based company soared to 79.3 billion yen from 31 billion yen, the company said, crediting the growing trend for consumers to trade in bulky cathode ray tube TVs for flat screen models. Overall revenue increased by 3 per cent to 4.4 trillion yen, an all-time high, while net profit rose 79 per cent to 115.1 billion yen. In the second business quarter Matsushita could double net profits owing to the strong sales of flat picture televisions, digital cameras and air conditioning systems with an increase of 156 per cent to 79.3 billion yen, compared to the same period last year. The Osaka-based company stood by its outlook for a full-year profit gain of 9 per cent.
