Automotive giant Nissan has signalled a significant boost to its profits in the third quarter of its financial year, but highlighted a range of challenges to its global operations.
The Japanese company, which has a major manufacturing site at Sunderland, has released financial results for the period from April to December which show consolidated operating profit of 289.7bn yen (£1.8bn) and an operating profit margin of 3.9%.
Nissan said it had seen “significant year-on-year profit improvement in the third quarter” but also detailed challenges it is facing, including currency fluctuations, increases in raw material prices, the continuing semiconductor shortages and the resurgency of Covid in some parts of the world where it has production facilities. The company said it had seen lower sales volumes than the previous year as a result, but was making “steady progress” with its Nissan NEXT business transformation plan.
