Nissan profits beat estimates as weaker yen helps sales

nissan profits

Nissan has reported better-than-expected profits, helped by the weakening yen and by a recovery in sales in China.

Japan’s second-biggest carmaker said profit rose 57% to 84.3bn yen ($825m; £503m) for the last months of 2013, beating analysts’ estimates.

It also sold a record 5.1 million vehicles globally last year.

The positive results come three months after the company cut its full-year profit outlook by about 20%.

Nissan president and chief executive Carlos Ghosn said earnings had been lifted by growing demand for new models in several key markets.

“Sales in Japan and North America helped offset emerging market volatility and sluggish conditions in Europe,” he said in a statement.

“Based on its strong product line-up and current market demand, Nissan is maintaining its full-year earnings guidance.”

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