ZCZC
BCN-35
JAPAN-AUTOMOBILE-EARNINGS-COMPANY-NISSAN
Nissan first-half profit slumps on rising costs
TOKYO, Nov 8, 2018 (BSS/AFP) – Japanese automaker Nissan on Thursday
logged a 10.9-percent drop in net profit for the six months to September due
to a decline in global sales and rising material costs.
The firm’s bottom-line profit fell to 246.3 billion yen ($2.2 billion)
from 276.5 billion yen registered in the same six-month period last year.
Sales came in at 5.5 trillion yen, down 2.1 percent compared to last
year’s figures.
Nissan, allied with Renault SA of France, maintained its annual forecasts,
with net profit forecast at 500 billion yen on sales of 12 trillion yen.
Global vehicle sales fell 1.8 percent to 2.68 million units for the six
months due to declines in North America and Europe.
The gloomy results were in sharp contrast with upward revisions of full-
year forecasts by rivals Honda and Toyota, which both also posted sales and
profit gains for the six-month period.
BSS/AFP/HR/1410