Nissan reveals small rise in profits

<p>Profits are up at Nissan.</p>

Car manufacturer Nissan has revealed it saw a small rise in its profits in the last 12 months.

But its financial position was a lot stronger for the last quarter of the year, indicating there could be a positive year ahead for the company.

It announced its income during 2012 amounted to 342.45 billion yen (£2.2 billion), which is a rise of 0.3 per cent from the previous year. Nissan also noted its global revenue grew 2.3 per cent to 9.6 trillion yen over the year.

Sales in Europe decreased 7.5 per cent to 660,000, while they also dropped by more than five per cent in China to 1.18 million units.

There was more positive news for the firm in the US, where sales rose 5.4 per cent. The company also noted demand in emerging markets was strong. Sales worldwide overall increased to 4.9 million units, an increase of 1.4 per cent from the previous 12 months.

Shares in Nissan rose by three per cent on the back of the news and were trading more than 30 points higher than at the start of the day.

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