(MENAFN) Nissan said it raised its full-year net profit forecast to USD3.5 billion on cost cutting efforts and a cheaper yen, with surging US and European sales offsetting a plunge in Japan, Khaleej Times reported.
The Japanese automaker expected to register a profit of USD3.5 billion in the year ending to March 31, up from an earlier forecast of USD3.41 billion, the company said in a statement.
In the nine months to December, Nissan's net profit surged 23.6 percent over the same period a year earlier, hitting USD2.85 billion, while operating profit soared 39 percent to USD3.51 billion.
"Nissan delivered solid financial results in the first nine months of the fiscal year, reflecting rising US sales of our latest models and a normalizing yen-dollar exchange rate," Nissan CEO said.
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