Berkshire Hathaway posts $3.63bn profit

10 May 2010

Berkshire Hathaway has recorded its highest revenue figure in three years in its results for the first quarter of 2010.

Warren Buffett's company made a total of $32 billion in the opening three months of the year, a 41 per cent increase on the $22.8 billion figure recorded at the same point in 2009.

The improvement saw the firm record overall profits of $3.63 million in this year's first quarter, a turnaround from a loss of $1.53 billion a year ago.

Among its operations to see growth were several manufacturing divisions, including Iscar Metalworking and Forest River, reports Bloomberg.

"These operations rebounded somewhat from slow activity in the first quarter of 2009," said a statement from Berkshire Hathaway.

Last month, Ronald Olson, a director at Berkshire Hathaway, said the firm's $5 billion investment in Goldman Sachs represented a "very strong statement" from Mr Buffett about his belief in the integrity of the bank.

Goldman Sachs has recently been the subject of fraud charges from the Securities and Exchange Commission.

By Tony Aynsley

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