Japanese car maker Mitsubishi Motors has reported net sales of 1,807.3bn yen ($22.4bn) for the fiscal year 2011, a marginal decrease of 1% compared to 1,828.5bn yen ($22.62bn) over the previous fiscal year.
The decrease in sales was primarily attributed to drop in wholesale volume as well as the negative impact of the strong yen, said the company.
The company has posted operating profit of 63.7bn yen ($787.74m) for the fiscal year 2011, a 58% or 23.4bn yen ($289.34m) increase over the last fiscal year, mainly due to improvements in model mix, together with other measures such as reductions in material and other costs.
Net profit for the company was 23.9bn yen ($295.53m), a 53% or 8.3bn ($102.63m) increase compared with the previous fiscal year, while ordinary profit was 60.9bn yen ($753.2m), a 56% or 22bn yen ($272.1m) increase over fiscal 2010.
The company posted total sales of 1,001,000 units, up 1% when compared with 1,014,000 unit in the last fiscal, with maximum sales in Japan (152,000 units) followed by North America (106,000 units).
The sales volume decreased in Japan by 7% due to slower minicar sales, whereas increased in North America due to higher sales in the US which stemmed mainly from strong sales of the Outlander Sport.
The sales in Eropean market decreased due to slowing total demand, while Asia & Other Regions clocked a 3% increase driven by strong sales in ASEAN bloc countries including Thailand and Indonesia and firm sales in Brazil.
