Nissan has reported its first decline in profits since 2000, when Carlos Ghosn took over as chief executive.
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The company announced today that it expects net profit to have fallen 11.1% in the financial year ending 31 March to 460.8bn yen. Net profit in the final quarter, January-March 2007 was down 46%, due to restructuring costs associated with reducing the size of the workforce in Japan and the US. Group net profit fell to 82.16bn yen from 152.37bn yen a year earlier.
Operating profit in the final quarter was up 1.9% to 245.23bn yen. Group sales were up 36% to 3,591bn yen, up from 2,636bn yen.
Sales for the full year are expected to reach 10,469bn yen, up 11% on a year ago and operating profit is forecast to be 777bn yen, down 10.9%.
Nissan’s global sales were 3,483,000 units, down 2.4%. In the US, sales were at 1,035,000 units, down 4.0%. In Japan, sales were at 740,000 units, down 12.1%. In Europe, sales came to 540,000 units, down by 0.2%.
Nissan said it will launch 11 all-new models globally this year.
