Nissan revenue hits record but profits only edge up

Second-ranked Japanese automaker Nissan Motor said Friday its interim sales hit a record high but net profits rose only slightly, hurt by a stronger yen, costlier sales incentives and increased investment.
Nissan, controlled by Renault SA of France, said sales rose 12.7 percent to a record 4.0 trillion yen (36.4 billion dollars) in the six months to September, while recurring profit gained 2.8 percent to 401.4 billion yen.
Interim net profit edged up 0.5 percent to 238.8 billion yen.
Globally, Nissan sold 1,596,000 vehicles in the first half, up 8.8 percent, boosted by 16.6 percent growth in the United States to 489,000 and 6.6 percent growth in Europe to 285,000. Sales in Japan fell 4.9 percent to 368,000.