Pioneer expects revenue to rise over 10% next year

Wednesday, November 26, 2003

Pioneer expects revenue to rise over 10% next year

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Japanese consumer electronics maker Pioneer Corp said on Wednesday that it expected revenue to rise by more than 10 percent next business year, with an operating profit margin of seven percent, thanks to overseas growth in sales of DVD recorders.

Pioneer President Kaneo Ito told a news conference that he expected the operating margin to rise from an estimated six percent this business year, ending in March. For the six months that ended on September 30, Pioneer reported a 33.5 percent rise in operating profit to 17.6 billion yen ($160.9 million) thanks to strong sales of car electronics and DVD drives used in personal computers. ($1=109.37 yen)