BUSINESS
08/01/2011 04:40 EDT | Updated 09/30/2011 05:12 EDT

Mitsubishi Motors back in the black on new market growth despite quake damage

TOKYO - Mitsubishi Motors sprang back into the black for the fiscal first quarter as growth in emerging markets offset damage from the quake in northeastern Japan.

Mitsubishi Motors Corp. said Monday it posted a 4.3 billion yen ($55 million) profit for the April-June period, a reversal from 11.8 billion yen in red ink a year earlier.

Quarterly sales rose nearly 7 per cent to 431.9 billion ($5.5 billion) from the previous year.