Nissan posts 24.9 pct rise in H1 group net profit on brisk SUV sales in U.S.

Nissan Motor Co. announced Tuesday a 24.9 percent year-on-year rise in its group net profit for the fiscal first half and a 16 percent rise in its net profit in the July to September period, citing robust sales in the United States of its crossover SUV models compensating for lackluster sales here.

Nissan, Japan's second-largest carmaker after Toyota, also said its quarterly net profit rose to 124.9 billion yen (1.12 billion U. S. dollars) from 107.8 billion yen profit booked in the same period a year earlier. In the six months ended on Sept. 30, it posted a group net profit of 237 billion yen, the automaker also said.

"Nissan successfully overcame challenging market conditions in the first-half of the fiscal year, delivering solid revenues and profitability amid encouraging demand for our latest models," Nissan CEO Carlos Ghosn was quoted as saying Tuesday in a written statement.

Its operating profit jumped 18 percent to 261.94 billion yen, the automaker added, while stating that sales had increased 8.2 percent to 5.14 trillion yen in the April-September period.

Nissan, formally known for its Skyline and 350Z sports coupes, but finding increasing favor with sales of its crossover SUVs in North America, maintained its profit outlook said for the current fiscal year through next March, with a group net profit of 405 billion yen and operating profit of 535 billion yen.

Owing to the growing popularity of its Murano and the Rogue SUV crossovers in the United States, its biggest market, sales jumped 13 percent on year in October alone, Nissan said.

The Yokohama-based automaker raised its sales projection, henceforth, to 10.80 trillion yen, from its previous projection of 10.79 trillion yen.