Nokian in the black on sales down by a quarter

ERJ staff report (DS)

Helsinki -- Nokian tyre group remainined in the black, despite seeing sales fall by over a quarter in the year to December 20009.

The company reported net profits of euro 58.3 million for the 12 months, down from euro 140 million in 2008. Operating profits came in at euro 102 million , down from euro 247 million while sales for 2009 stood at euro798.5 million, down by 26 percent from the euro 1081 recorded in 2008.

Nokian's president and CEO, Kim Gran said, "Russian and Nordic markets have stabilised and are showing early signs of growth. In spite of some encouraging signals, we will still base our actions on a gradual rather than a rapid recovery."

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Press release from Nokian