Nissan announces rise in profits

Nissan has announced that it recorded rising profits in the three months to December.

The carmaker said that profits were up 3.2% year-on-year during the third quarter to 82.7 billion yen (£674 million) on the back of strong sales.

Figures show that the number of vehicles sold during the three-month period rose by nearly a fifth on the same time a year earlier, to 1.2 million.

Sales were up just over a tenth compared with the previous three months, suggesting a rise in newcar insurance policies for Nissan vehicles.

"Significant external headwinds such as the abnormally strong yen and floods in Thailand challenged us during the third quarter," said Nissan president and chief executive Carlos Ghosn.

"Nissan responded decisively to these challenges, boosted by the strength of our product," he said.

Copyright Press Association 2012