Sony reports annual profits

Technology giant Sony has announced that it has made an annual profit for the first time in the last five years.

It was revealed by the company that it made a net profit of 43 billion yen (£280 million) in the year to March 31st. This comes after the firm announced a loss of 457 billion yen in the same period a year earlier.

Sony explained that the yen's recent fall, which has had the end result of making Japanese goods cheaper for foreign buyers, has helped to boost sales for the company.

The Japanese currency has fallen more than 20 per cent against the US dollar in the last six months and this has been good news for a lot of manufacturers in the Asian nation.

Sony's share price dropped by ten per cent earlier in the year on the back of the news it made a loss between October and December 2012.

Later today (May 9th), its stocks will open at 17.94 on the New York Stock Exchange.

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