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Nissan announce Q1 profits of 120.7bn Yen

Nissan has announced operating profits of 120.7 billion yen (1.17 billion euros) for Q1 of 2012, 20% lower than the same period in 2011.

This decline was attributed to the worsening foreign exchange impact on a strong yen, alongside one-time selling costs in North America. The pricing environment was also not a particularly favourable one, due to the distortion of prices by supply constraints caused by the Japanese earthquake and tsunami.

During the period, 1,210,000 Nissan vehicles were sold globally, a 14.6% increase on the previous year, while global market share same an 0.4% increase to 5.9%.

Commenting on the figures, Nissan President and CEO Carlos Ghosn said: “Nissan has delivered a respectable performance in the first quarter despite challenging macro-economic conditions.

Net revenue increased 2.6% to 2.1364 trillion yen , while ordinary profit came to 111.5 billion yen and net income totaled 72.3 billion yen.

In the April-to-June period, Nissan continued to execute on its Power 88 mid-term business plan, designed to enhance its product portfolio and strengthen the group’s brand and sales presence around the world.

As part of that plan, two new models were launched during the quarter including the Nissan Altima in the US and the Nissan NV350 Caravan in Japan.

This was posted in Bdaily's Members' News section by Ruth Mitchell .