Nokian posts first-half financial results

Aug. 12, 2002

Nokian Tyres P.L.C.'s financial results for the first half of 2002 were strong, according to a Tyres & Accessories report.

Both turnover and operating profit were

up compared to the first half of 2001. Turnover rose 12.6% to 193.3 million euros, while operating profit was up almost 30%, from 6.7 million euros to 8.7 million euros.

According to Nokian, price increases, improved product mix and lower material costs all contributed to the increases. In addition, most

product groups increased their sales, with the exception of the retreading materials division and the company's Vianor retail chain.