Restructure helping Sony back into profit

SONY'S first profit in five quarters yesterday showed a restructuring at the electronics giant is starting to pay off as it halved its annual loss forecast on a rebound in its flat-TV business.

Profit in the group's third quarter to December was also driven by Sony's insurance division, whose investments were buoyed by a recovery in Japanese shares.

The firm has shed jobs and shut plants following the global economic downturn and has worked to shore up its flat TV division, which has struggled amid stiff price competition with Samsung and other rivals.