Upbeat outlook from Canon

CANON forecast its operating profit would rise by one-fifth this year as the Japanese camera and copier giant outperformed rivals on sales of its EOS and IXY digital cameras and cost cuts.

The world’s largest maker of digital cameras expects 470bn yen (£3.58bn) in operating profit for the year that ends in December, against the average analyst estimate of 472.5bn.

It expects sales to rise 10.6 per cent to 4.1 trillion yen, with India, China and other emerging nations expected to continue healthy growth, and economies of developed nations continuing on a path of modest recovery.