Nissan posts strong first-quarter results

Nissan has announced net income of €910m (£758m) for the first quarter of fiscal year 2010, compared with a net loss of €140m from the same period a year ago.

Nissan’s operating profit totalled €1.43bn, while the ordinary profit amounted to €1.32bn. Net revenue increased 35.3 per cent to €17.5bn.

Globally, Nissan sold a total of 954,000 vehicles in the first quarter of fiscal year 2010 − up 32 per cent compared with the same period in fiscal 2009.

Nissan’s forecast remains unchanged for the fiscal year, with an operating profit of €2.92bn and net income of €1.25bn.

‘First-quarter results for Nissan are good and our recovery is vigorous and ahead of schedule,’ said Nissan president and chief executive officer Carlos Ghosn. ‘Challenging market conditions persist, but our performance reflects strong demand for Nissan’s products, as well as our relentless focus on operational efficiency.

‘Despite uncertainty surrounding the ongoing global economic recovery, raw material costs and exchange rate volatility, we are confident to achieve our FY2010 forecast.’

10 new products, including the Nissan LEAF, will be introduced throughout 2010.