Nokian Tyres H-1 sales, earnings soar

Nokian, Finland-Nokian Tyres plc posted double-digit gains in both earnings and sales in the first half of 2004, prompting the firm to forecast improved sales and earnings for the whole year.

Nokian credited strong sales in the US-up 50 percent-Russia and the Nordic countries for a 29.1-percent increase in manufacturing-related revenues during the period; the company’s distribution network posted lower gains.

Operating earnings of $36.2 million (€30 million) were 76.6 percent ahead of a year earlier, while sales advanced 18.9 percent to $307.7 million.

The company attributed…

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