Nissan Motors announced today record operating profits of 825 billion yen (£4.26 billion), up 11.9% for the financial year ended March 31, 2004.

The operating profit margin came to 11.1%, reaffirming Nissan's position as one of the world's most profitable carmakers. Despite a negative foreign exchange rate outlook, Nissan is forecasting continued growth in operating profits for next year.

Consolidated net revenues totalled 7.429 trillion yen (£38 billion), up 8.8%. Net profit after tax was 503.7 billion yen (£2.60 billion), up 1.7%., while return on invested capital was a record 21.3%.

Nissan sold 3,057,000 vehicles worldwide in 2003, an increase of 10.4%, or 287,000 units, beating the three million sales mark for the first time in 13 years.

President and CEO Carlos Ghosn also unveiled highlights of Nissan Value-Up, the three-year business plan that will follow Nissan 180 in April 2005.

"Nissan 180 propelled us to the top performance rank of the world's automakers. Nissan Value-Up will broaden and strengthen that position," says Ghosn.