TOKYO (AFX) - Nissan Motor Co, Japan's second-largest automaker, reported its sixth consecutive year of record profits, helped by brisk sales to the US market.
The company said net profit edged up 1.1 pct to 518.1 bln yen in the 12 months to March from the previous year.
Revenues at Nissan, which is 44 pct owned by France's Renault, rose 9.9 pct to 9.43 trln yen.
'Nissan delivered a solid performance in fiscal 2005 despite the many challenges facing the global auto industry including higher raw material prices, higher energy costs, higher interest rates and higher incentives,' said Nissan president and chief executive Carlos Ghosn.
Nissan said it sold a record 3.57 mln vehicles over the year, led by sales in the US which grew 6.1 pct.
Japanese automakers are enjoying strong sales in the US market as local automakers General Motors and Ford suffered from losses.
In Japan, Nissan's sales fell 0.7 pct and in Europe they were down 0.6 pct.
The automaker pledged to accelerate its expansion into new and emerging markets, announcing plans to invest 200 mln usd in a new manufacturing facility in Saint Petersburg, Russia.
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© 2006 AFX News
