Nissan first-half profit slumps on rising costs
Japanese automaker Nissan on Thursday logged a 10.9% drop in net profit for the six months to September due to a decline in global sales and rising material costs.
The firm's bottom-line profit fell to ¥246.3 billion ($2.2 billion) from ¥276.5 billion registered in the same six-month period last year.
Down on last year
Sales came in at ¥5.5 trillion, down 2.1% compared to last year's figures.
Nissan, allied with Renault SA of France, maintained its annual forecasts, with net profit forecast at ¥500 billion on sales of ¥12 trillion.
Global vehicle sales fell 1.8% to 2.68 million units for the six months due to declines in North America and Europe.
The gloomy results were in sharp contrast with upward revisions of full-year forecasts by rivals Honda and Toyota, which both also posted sales and profit gains for the six-month period.