Page last updated at 09:22 GMT, Wednesday, 27 January 2010

Canon profits jump on digital camera sales

Canon camera
Canon makes cameras, printers and copiers

Canon has reported a more than fivefold jump in profits for the final three months of last year after sales of digital cameras grew strongly.

Net profits came in at 61.6bn yen ($689m; £428m) for the October to December quarter, compared with 11.6bn yen a year earlier.

This was despite a fall in net sales of 5%, from 994.7bn yen to 954.1bn yen.

Profits for the full year, however, dropped sharply, from 309.1bn yen in 2008 to 131.6bn yen, a fall of 57%.

Canon, the world's largest maker of digital cameras, said demand for single lens reflex (SLR) cameras had been strong during the final quarter of 2009, but that sales of office equipment such as photocopiers and printers had yet to recover from the downturn.

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