Automotive giant Nissan says it expects a rise in global profits next year despite what it says is a “harsh” business environment.
The Japanese company - which has a key European plant at Sunderland employing more than 6,000 people - has released results for the year ending March 31, 2023 which show that revenues rose to 10.6 trillion yen (£62.7bn) with an operating profit of 377.1bn yen (£2.2bn).
Nissan said its improvement had come despite a continuing shortage of semiconductors and other parts, as well as shutdowns in China which impacted on its production levels around the world. It said the financial year had seen it return to positive free cash flow and issued a forecast of 38% revenue growth to the Tokyo Stock Exchange.
