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Nissan returns to profit, revises full-year forecasts upwards

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Nissan returns to profit, revises full-year forecasts upwards

09.02.2010
Japanese car manufacturer Nissan returned to profit during the final three months of 2009.

During its third quarter, Nissan posted a profit of 45bn yen (US$500m). This was compared to a loss of 83bn yen reported during the same period in 2008.

Nissan said the better -than-expected results were mainly due to additional sales volumes driven by car-scrappage schemes in its major markets and sales volume growth in China.

The car maker sold 882,000 vehicles worldwide during the October-to-December 2009 period, which represents a 20.6pc increase over the same period in fiscal year 2008.

During the nine-month period from April to December, Nissan reported a 25pc rise in net profits to 54bn yen.

Globally, Nissan said it sold 2,505,000 vehicles during the first nine months of the fiscal year, down 4.8pc compared with the same period last year.

The company today revised upwards its full fiscal-year forecast for 2009. It now expects net profits of 355bn yen on net revenues of 7.4tr yen, as opposed to the net loss it had forecast previously.

 

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