Business

Canon lifted by sales of cameras and printers

  • 27 July 2010
  • From the section Business
Canon camera
Image caption Demand for high-end digital camera models was robust

Canon has reported a fourfold increase in profit, helped by strong sales of digital SLR cameras and laser printers.

The company reported a net profit of 67.6bn yen ($775m; £500m) for the second quarter, compared with a profit of 15.6bn yen a year earlier.

Net sales for the quarter rose 22% to 970.4bn yen.

But the firm did not raise its forecast of an annual profit of 240bn yen, citing a stronger yen and uncertainties over the outlook of European economies.

"The market still has a downbeat earnings outlook going forward, and as if as a proof, the company also didn't revise up its outlook," said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management.

"It's hard to think the company's earnings will keep up the pace seen in the first half because so many uncertainties remain."

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