Tokyo, Oct 17: Nissan Motor, Japan’s third-largest auto maker, reported a 15% jump in half-year operating profit to a record level on Thursday as a slew of new models drove sales higher in every major car market. However, net profit fell 17% to 237.7bn yen ($2.2bn). Since Nissan had a lower effective tax rate and posted big special gains mainly on asset sales in the year-earlier period.
Nissan, owned 44% by France’s Renault, stuck to its full-year forecast of an 11% jump in operating profit.
Nissan said that without these factors, net profit would have mirrored the rise in operating income.
Revenue grew 8.2% to 3.6 trillion yen while global sales volume climbed 5.9% to 1.5m units. Its operating margin was 11.3%, the highest in the industry among high-volume auto makers. Bureau Report