Nissan expects fiscal year profit

Nissan has registered a profit in October to December of last year and now believes it will be in the black for the full fiscal year, it has emerged.

The Japanese car manufacturer registered a deep loss in the fourth quarter of 2008, but posted a 44.97 billion yen (£321 million) net profit in its third quarter, compared to the loss of 83.16 billion yen a year previously. Sales increased from 1.82 trillion yen to two trillion yen.

It now predicts a 35 billion yen profit for the full fiscal year, a favourable picture compared to the 40 billion yen loss it made in November. It has also revised its sales target from seven trillion to 7.4 trillion.

The firm emerged back into profit through increased sales in its third quarter, while cost cutting measures in advertising and sales also helped the balance sheet. Expanding markets, such as China, also boosted the company's figures.

The global economic downturn had hit Nissan hard, but it returned to profit in the previous quarter between July and September.

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