Nissan reports return to profit

Nissan has benefited from the success of car scrappage schemes

Japanese carmaker Nissan has reported a return to profit for the last three months of 2009.

The company made a profit of 45bn yen ($500m, £320m) in the October to December period, compared with a loss of 83bn yen a year earlier.

It now says it expects to make a full-year profit of about 35bn yen, instead of the loss it previously predicted.

Nissan said scrappage schemes in major markets and sales growth in China had provided a boost to sales volumes.

The company sold 882,000 vehicles worldwide in the three-month period, a 20.6% increase on the previous year.