Nissan predicts a better than expected profit
NISSAN Motor forecast a better-than-expected 14.4 per cent fall in annual operating profit yesterday, defying a quake-induced setback in the past few months and projecting another year of record sales.
Japan’s number two automaker forecast an operating profit of 460bn yen (£3.57bn) for the year to March 2012, above an average forecast of 432bn yen.
Despite the lingering disruption to production from the 11 March earthquake, Nissan said it would boost sales by 9.9 per cent to 4.6m vehicles this year, offering a rosier outlook than rivals Toyota and Honda, which have both forecast a sales decline.
“We’re pretty confident that the supply will be there,” Nissan chief executive Carlos Ghosn said.
He added that with fewer than 10 suppliers affected by the disasters now, he hoped production would fully return to normal before an October target.
Nissan expects net profit of 270bn yen, down 15.4 per cent from last year, assuming an average dollar rate of 80 yen and euro of 115 yen.
Revenue is seen rising 7.1 per cent to 9.4 trillion yen, and Nissan plans to double its dividend to 20 yen this year.