Japanese electronics retailer Sharp has made its first profit in three years after a restructure of the business and a boom in demand before the country’s consumption tax rise.

In its annual report, the company said net income was 11.6 billion yen ($114 million; £67 million) more than double its forecasts.

Sales increased by 18% on increased demand for smartphones and solar panels, particularly ahead of the rise in Japan’s consumption tax on April 1st.