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Nissan Motor H1 Profit Down 73.5%; Cuts FY Outlook - Quick Facts

Japanese carmaker Nissan Motor Co. Ltd. (NSANF.PK,NSANY.PK) reported Tuesday that its that net income attributable to owners of the parent for the six-month period to September 30, 2019 fell 73.5 percent to 65.4 billion yen from 246.3 billion yen in the prior year.

Operating profit plunged 85 percent to 31.6 billion yen from 210.3 billion yen last year, and was equivalent to an operating profit margin of 0.6 percent.

Net revenue for the first half declined 9.6 percent to 5.03 trillion yen from 5.53 trillion yen in the same period last year.

Looking ahead, Nissan lowered its full-year forecast due to the unclear economic environment and expected sluggish overall demand.

For fiscal 2019, the company now expects net income of 110 billion yen, compared to the prior outlook of 170 billion yen.

The company now projects full-year operating profit to be 150 billion yen, and revenues of 10.60 trillion yen. Earlier, the company projected operating profit of 230 billion yen and revenues of 11.30 trillion yen.

The company now sees global retail sales at 5.2 million vehicles, down from a prior forecast of 5.5 million vehicles.

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