Canon posts record-breaking profits
29/01/2007 17:14

Office equipment manufacturer Canon has revealed that it has made record profits in 2006.

The company has confirmed that it made a record-breaking 455.32 billion yen (£1.9 billion) in net profit last year, citing the popularity of digital cameras and printers as the driving force behind the increase from 2005.

It recorded a net profit of 384.1 billion yen (£1.6 billion) in 2005, but accounts from 2006 showed that that the last 12 months had been a memorable year for the office equipment manufacturer.

This increase has been attributed to a 25 per cent year-on-year rise in digital camera sales, with Canon shifting 21.1 million in 2006.

Canon senior managing director Toshizo Tanaka said: "Sales and all profits registered the seventh straight year of rises, hitting records driven by strong demand for our digital cameras, laser printers and colour copiers.

"As global demand for digital cameras grew in almost all regions, we released 18 new models, which helped us to achieve sales of over one trillion yen (£419.2 million) in the camera division alone for the first time ever."

Mr Tanaka added that company would continue to release "attractive models" across all of its ranges in a bid to see profits and market share increase further during 2007.

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