October 31, 2018 / 6:24 AM / 14 days ago

Tyre maker Nokian trims FY profit outlook

HELSINKI, Oct 31 (Reuters) - Finnish tyre maker Nokian Tyres on Wednesday cut its full-year profit outlook after reporting a surprise fall in quarterly earnings, dented by unfavourable currency moves.

Nokian, which has a large plant in Russia and a smaller one in Finland, said 2018 sales and operating profit is now expected to be flat or slightly higher from 2017, compared with a previous forecast of growing sales and profit.

Third-quarter operating profit dropped 4 percent from a year earlier to 86 million euros ($97.5 million), clearly below analysts’ average expectation of 95 million euros in a Reuters poll.

$1 = 0.8819 euros Reporting by Jussi Rosendahl, Editing by Sherry Jacob-Phillips

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below