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Nokian posts first quarter sales gain

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Nokian Tyres plc posted net sales of 183.8 million euros for the first quarter, an 18.1% increase over the same period in 2009.

Nokian officials believe the Finland-based company is positioned to improve its overall net sales for the full year.

"Demand in Nokian Tyres' core markets has started to recover as expected, and our sales and results improved as planned," says Nokian CEO and President Kim Gran. "The majority of our growth (in the first quarter) came from a prolonged winter season and a recovery of preseason sales in Russia, where the business environment is improving."

In North America, Nokian's sales grew by 1% in 1Q 2010, accounting for slightly more than 10% of the company's overall sales.

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