Rise for Sanyo

JAPANESE consumer electronics maker Sanyo Electric said sales of stock holdings helped triple its current profit in the six months to May 31 from the same period last year.

The company sold 9.3 billion yen (about HK$734 million) in stock from its portfolio to help current profit reach 6.7 billion yen for the period, up from 2.7 billion yen last year.

Sanyo posted an operating loss, or loss on its actual business operations, of 5.77 billion yen in the half-year, up from a 12.58 billion yen loss in the same period last year.

Sales rose 0.6 per cent to 503.8 billion yen.