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Sony Music posts full-year operating profit - as parent suffers record loss

Sony Music posts full-year operating profit - as parent suffers record loss

Sony's Music division posted an operating profit of 36.9bn Yen (£287m) for the year to end of March 2012, on sales of 442.8bn Yen (£3.49bn).

Annual operating profit was down by 2.0bn Yen (£15.55m) for the period, whilst sales dropped 5.9%.

In its Q4, the division posted an operating profit of 3.2bn Yen (£25m) - down 0.6bn Yen (£4.7m) from last year - on sales of 106.1bn Yen (£825m).

However, it was a rocky time for parent Sony Corp, which posted a record annual net loss of 456.7 billion yen (£3.57bn).

Sony Corp is now predicting a return to operating profit in the next fiscal year, as it cuts losses around its television business.

Sony's Music, Pictures, Financial Services and Mobile Communications divisions all posted profit, but its Consumer Products and Services segment recorded a huge annual operating loss of 229.8bn Yen (£1.79bn).

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Tags: Sony Corp, Sony Music Uk

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