Estonia's Norma Q1 profits dive 48 pct

Newswire

TALLINN, April 23 (Reuters) - Estonian seat-belt maker Norma said on Wednesday its net profit plunged 48 percent to 1.4 million euros ($1.54 million) in the first quarter, below analysts' expectations as sales to Russia plummeted. Norma , which supplies safety belts and other car components, said in an unaudited statement net sales in the three-month period to end March totalled 13.3 million euros, down from 14.8 million euros last year. "Sales volumes to Russian customers decreased in the ...

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