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Home BUSINESSProfit of Nokia Tyres falls
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Sat, 09 May, 2015 12:40:40 AM
FTimes-STT Report, May 9

The unstable situation in Russia has been reflected in Nokia Tyre's first quarter results.

On the other hand, sales, particularly in the United States, have picked up.

Nokia Tyre's operating profit decreased in the first quarter of 2015 to 48 million euros. The same quarter last year saw an operating profit of 68 million euros.

Changes in exchange rates have also cut into the company's profits.

According to managing director Ari Lehtoranta, the situation in Russia has levelled off and the company's first quarter profits were not unexpected.

"Although the visibility of future market developments in Russia and the CIS countries is still fragile, we remain confident for the future," Lehtoranta says in a company release.

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