New Delhi: Canon India, a subsidiary of Japanese digital imaging company Canon, says it does not expect to make a profit in 2009. Although the company did not make a profit in 2008, it did have a net profit margin of 4% in 2007.
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Canon India President and CEO Kensaku Konishi says this money will be used to help dealers extend finance to customers. The money will come through the parent firm Canon Singapore.
The company also expects to grow its sales at 25-30% growth rate in the current year. This will be less than the 31% growth rate it saw in 2008 and the 38% growth rate in 2007.
The company had revenues of Rs650 crore in 2008 and expects to touch Rs850- 900 crore in 2009. It had revenues of Rs510 crore in 2007.
Canon expects a 0-5% dip in sales globally.