Nissan boosted full-year group profit by 12% helped by rising sales in the US, where its new Altima has been a hit, and a weaker yen.
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Nissan’s net profit for the financial year ended March 31, 2002, was 372 billion yen ($US2.95 billion), or 92.61 yen a share, up from 331 billion yen or 83.53 yen a share on the 2001 results, as revealed in a preliminary announcement on May 9.
Confirming the profit, Nissan added that it may spend as much as 100 billion yen to buy back shares, if given approval by shareholders on June 20.
Confirming preliminary announcements, Nissan forecast net profit rising to 380 billion yen this year, with help from new model launches, while operating profit should rise 13% to 553 billion yen.
Nissan plans to release 12 new models this year, cut costs by 5% and spend 290 billion yen – 4.5 percent of sales – on R&D.
Nissan’s global production will grow 10% to 2.73 million units, with Japanese output climbing 5% to 1.34 million units while North American production will grow 14.5% to 792,000 units and European output by 15% to 460,000 cars this year.
