May 9, 2018 / 7:39 AM / a year ago

Mitsubishi Motors sees annual profit rising on Asia sales

TOKYO, May 9 (Reuters) - Mitsubishi Motors Corp on Wednesday forecast a 12 percent rise in operating profit for the current financial year, as it expects increasing vehicle sales in Asia to help boost its bottom line.

Japan’s seventh-largest automaker said it expects operating profit to rise to 110.0 billion yen ($1.0 billion) in the year to March 2019, mostly in line with the median forecast for 111.5 billion yen in a Thomson Reuters I/B/E/S poll.

Its operating profit was 98.2 billion yen in the year just ended, meeting market forecasts and surging roughly 20-fold from the previous year, as the automaker continues to recover from a mileage-cheating scandal from two years ago. ($1 = 109.7600 yen) (Reporting by Naomi Tajitsu; Editing by Himani Sarkar)

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