May 9, 2018 / 5:19 AM / 18 days ago

Nokian Tyres misses market expectations in Q1, cites currency effects

HELSINKI, May 9 (Reuters) - Finnish tyre maker Nokian Tyres reported on Wednesday quarterly sales and profits below market expectations, citing an unfavourable currency effect.

Operating profit in the first quarter of the year rose 4 percent to 61 million euros ($72 million), compared with analysts’ average forecast of 69 million euros in a Reuters poll.

Sales rose 3 percent to 336 million euros, compared with a market forecast of 342 million euros and including a headwind of 20 million euros from exchange rate changes. ($1 = 0.8442 euros) (Reporting by Jussi Rosendahl)

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