Nokian Renkaat misses forecasts on weak European demand

Newswire

HELSINKI, April 29 (Reuters) - Finnish tyre maker Nokian Renkaat reported a bigger-than-expected decline in quarterly profit due to a steep fall in European demand. The company said its first-quarter operating profit fell 27 percent year-on-year to 76 million euros ($100 million), missing the average forecast among analysts for 82 million euros. Nokian Renkaat said earnings in the first half of the year will likely be weaker than a year earlier, but repeated ...

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