Strong sales boost Nissan profits

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Nissan have announced a fourfold rise in quarterly profits and raised its full-year forecasts.

The Japanese manufacturer reported a second-quarter net profit of 101.73bn yen ($1.26bn; £775m), up from 25.53bn yen 12 months ago, with sales up 21.4% and also raised the full-year profit forecast to 270bn yen from 150bn yen.

“Our first-half results demonstrate that Nissan’s recovery efforts are working effectively,” said Nissan chief executive Carlos Ghosn.

Nissan announced 20,000 job cuts at the height of the financial crisis.

The increase in sales outweighed the impact of the strengthening yen, which has dented the post financial crisis revival for some Japanese companies.

Source: BBC News