Nissan posts record profits

Nissan posts record profits - 25/04/2005

Nissan has posted record annual profits on the back of a major rise is demand in the US market.

For the financial year ending March 31st 2004 saw Nissan bring in $4.8 billion, which was in excess of its forecasts.

The new figures look set to secure Nissan's position as the most profitable automobile manufacturer in the world.

Its operating profit was up by 4.4 per cent to give an overall profit margin of ten per cent, which Nissan is confident will be the highest margin in the industry for the second straight year.



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The record profits are another feather in the cap for the controversial chief executive of Nissan Carlos Ghosn. Mr Ghosn has earned the nickname of "le cost cutter", having slashed the company's overhead costs by 20 per cent and cutting 200,000 jobs world-wide.

Nissan is looking to expand its annual sales to four million by 2008, and will be introducing more than 20 new cars before then.