Nissan has reported full-year net profit for the year ended March 31 up 13.6% to 389bn yen, in line with its previously issued guidance.
The company’s bottom line was boosted by higher sales, reduced costs and currency gains on the weaker yen.
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“Nissan generated solid results in fiscal year 2013,” said CEO and President Carlos Ghosn.
“Nissan’s performance will improve further in 2014. We are taking determined steps to reach our Power 88 goals including greater focus on market-by-market execution, ramping up newly installed manufacturing capacity and strengthening our brand power.”
Nissan said it expects volume to rise by 8.9% to 5.65m units in fiscal 2014, equivalent to a global market share of 6.7%. The company said it will benefit as new plant capacity comes on-stream in markets such as Mexico and Brazil. In addition, Nissan said that it will get a boost from full-year sales of new models including Nissan Qashqai and Rogue, Datsun Go and Infiniti Q50.
Net income in fiscal year 2014 is projected by Nissan at 409bn yen, 4% ahead of fiscal 2013.
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