HELSINKI – Finland’s Nokian Tyres TYRES.HE on Tuesday posted a deeper than expected first-quarter loss, hurt by last year’s sudden exit from Russia where the group had manufactured much of its product lineup for the European market and beyond.
The tyre maker’s January-March operating result fell to a loss of 18.8 million euros ($20.72 million) from a profit of 21.5 million a year ago, missing the 16.3 million loss mean estimate in a company-provided poll of analysts.
($1 = 0.9075 euros)
Source: Nasdaq
