Toshiba on Tuesday revised its first half profits outlook on the back of a strong performance by its power business as it finalised the $5.4bn acquisition of Westinghouse, the US nuclear reactor unit of British Nuclear Fuels.

The integrated electronics group expects operating profits in the first six months to be Y65bn ($550m), rather than an earlier forecast of Y55bn, due to strong sales of power generating equipment and distribution systems. First half operating profits last year were Y51.4bn. Net profits are expected to rise to Y38bn, rather than Y15bn, compared with Y14.6bn last year.