Friday 15 December 2017

Nissan raises profit forecast

Nissan has raised its earnings forecast
Nissan has raised its earnings forecast

Nissan raised its earnings forecast for the fiscal year after reporting a nearly 21% jump in quarterly profit.

The Japanese carmaker said today that sales were strong in the United States and Europe and the cheap yen boosted overseas revenue.

Nissan Motor Co reported a better-than-expected 101.8 billion yen (£561 million) net profit for October-December. Quarterly sales surged about 17% to 2.94 trillion yen (£16.1 billion).

The carmaker said improved sales in the US and Europe offset a decline at home in Japan.

Yokohama-based Nissan, which makes the Leaf electric car, the Altima and the Infiniti luxury models, expects a 420 billion yen (£2.3 billion) profit for the fiscal year through to March, marking an 8% rise year-on-year.

Previously, it had projected a 405 billion yen (£2.2 billion) profit.

Press Association

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