Turnover Up, Profits Down – Nokian’s First Quarter Figures
Nokian’s net sales in the first three months were up 18.4% over last year’s figures, reaching 67 million Euros (1999 Q1: 57 million Euros). Operating profit was -4.4 m Euros (2.7 m Euros). Manufacturing made a profit of 2.9 m Euros (5.8 m Euros) while the retail chain made a loss of -6 m Euros (-2.9 m Euros).