Thursday, November 4, 2010

GOOD PROFITS FOR NISSAN

    Nissan Motor Co., Ltd., today announced financial results for the first half of fiscal year 2010, ending March 31, 2011, as well as second-quarter performance. In the six months through September, net income after taxes totalled 208.4 billion yen (US$2.34 billion, €1.83 billion), an increase of 199.4 billion yen compared with the same period last year.

    Net revenues were 4.3191 trillion yen (US $48.58 billion, €37.95 billion) in the April-to-September period, up 27.7% compared with a year ago. Operating profit was 334.9 billion yen (US $3.77 billion, €2.94 billion), and operating profit margin came to 7.8%. Ordinary profit was 315.1 billion yen (US $3.54 billion, €2.77 billion).

    In the first half, Nissan sold 2,009,000 vehicles worldwide, up 23.8% compared with last year.

    "Our first-half results demonstrate that Nissan’s recovery efforts are working effectively," said Nissan President and CEO Carlos Ghosn. "Our balance sheet is strong, and our momentum is trending in the right direction. In the second half, a wave of innovative product launches will continue to fuel Nissan’s profitable growth."

    In the July-to-September second quarter, Nissan’s net income was 101.7 billion yen (US $1.18 billion, €920 million). Net revenues were 2.2689 trillion yen (US $26.41 billion, €20.5 billion), up 21.4% compared with a year ago. Operating profit was 167 billion yen (US $1.94 billion, €1.51 billion), and operating profit margin came to 7.4%. Ordinary profit was 160.1 billion yen (US $1.86 billion, €1.45 billion).

    Nissan sold 1 055 000 vehicles in the second quarter, up 17.1% compared with the prior year.

    In fiscal year 2010, Nissan will launch 10 all-new products globally. The second half will feature seven introductions, including the affordable, 100% electric, zero-emission Nissan LEAF that will be launched in Japan and the United States from December 2010.

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