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Nissan raises full-year profit forecast on stronger Q2 North America sales
[YOKOHAMA] Japan's Nissan Motor Co on Monday raised its full-year operating profit forecast by 8 per cent after it turned in a higher-than-expected second-quarter operating profit due to stronger vehicle sales in North America.
The company said it was now estimating an operating profit for the year ending March 2016 of 730 billion yen (S$8.5 billion), up from a previous forecast of 675 billion. The profit would be higher than the previous year's 590 billion.
It also raised its revenue forecasts for the full year.
Nissan said July-September operating profit climbed 44 per cent to 201.26 billion yen from 139.34 billion during the same period last year. That beat an average estimate of 179.04 billion yen for Japan's second-largest automaker, drawn from forecasts by 11 analysts according to Thomson Reuters I/B/E/S/ data.
Second-quarter net profit rose 38 per cent on the year to 178.46 billion yen.