Nokian says H2 profits will be affected by weak markets

ERJ staff report (DS)

Helsinki, Finland - In a brief trading statement, Nokian Tyres said operating profit in the second half of the year will be weaker than in the corresponding period a year earlier. In the full year 2012 net sales and operating profit will improve compared to 2011.

The company said, “Due to Central European lower prices and clearly weakened demand, Nokian Tyres' Operating profit in the third quarter and in the second half will be weaker than in 2011. In Nordic countries the full year sales are expected to be on previous year's level and in Russia sales will improve clearly compared to 2011. Nokian Tyres' third quarter Net sales are estimated to be EUR 365 million and Operating profit EUR 85 million.”

Nokian Tyres will publish its interim report of January-September on 30 October, 2012

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Press release from Nokian