Nokian to report substantially higher sales, profits in Q1

ERJ staff report (DS)

Nokia, Finland -- Nokian Tyres' sales and operating profit increased clearly in the first quarter. Net sales in the three months to March 2011 is estimated to be approximately EUR 278 million (Q1/2010: EUR 183.8 million) and Operating profit EUR 65-70 million (Q1/2010: EUR 21.1 million).

Estimated figures are unaudited. Nokian Tyres will publish its 2011 first quarter result on 6 May 2011, at 8.00 a.m.

In a brief statement to investors, the company's outlook was unchanged from its previous guidance on 9 Feb, saying said, "In 2011, the company is positioned to provide strong sales growth and to improve operating profit compared to 2010."

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Press release from Nokian Tyres