HELSINKI, April 29 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 its
forecast for ful-year sales and profit to grow thanks to
strength in its most profitable market, Russia.
($1 = 0.7634 euros)
(Reporting By Jussi Rosendahl; Editing by Ritsuko Ando)