Nissan roughly doubles Q1 profit, lifts outlook

JAPAN’S Nissan Motor roughly doubled its first-quarter profit on Wednesday (Jul 26), boosted by higher production and sales in North America and Japan and a weaker yen, and it lifted its full-year outlook.

Operating profit for the April-June period came to 128.6 billion yen (S$1.21 billion), versus the 120.33 billion yen average forecast in a poll of 10 analysts by Refinitiv and a 64.9 billion yen profit the same period a year earlier.

The Yokohama-based automaker raised its full-year forecast by nearly 6 per cent to 550 billion yen due to cost discipline and a favourable foreign exchange rate impact.

The forecast compared to a 517.42 billion yen average profit forecast in a poll of 18 analysts by Refinitiv.

Nissan shares closed down 1.2 per cent at 656.8 yen earlier in the day, before the company reported earnings. REUTERS