|

Add to Favorites

Forex

Futures

Spread Betting

CFD's

The Fusion Media Network:

Market News

Forex Brokers

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=abba7dad' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=216&what=bannerid:462&n=abba7dad' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=aebed4f4' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=259&what=bannerid:579&n=aebed4f4' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a65abcee' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=20&n=a65abcee' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a72a0668' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=250&what=bannerid:604&n=a72a0668' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a755b3b9' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=212&what=bannerid:434&n=a755b3b9' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a6d84836' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=181&what=bannerid:309&n=a6d84836' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=aa59d8a1' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=266&what=bannerid:607&n=aa59d8a1' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a08107bf' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=263&what=bannerid:596&n=a08107bf' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a4c834ed' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=204&what=bannerid:417&n=a4c834ed' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a9f62d12' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=197&what=bannerid:370&n=a9f62d12' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=ab6fa4c4' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=178&what=bannerid:287&n=ab6fa4c4' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=af78d5b1' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=201&what=bannerid:398&n=af78d5b1' border='0' alt='' /></a>

Trading Tools

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a8148999' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?zoneid=42&n=a8148999' border='0' alt='' /></a>

UPDATE 1-N.Renkaat Q3 profit tops fcasts, outlook gloomy

2008-10-31 06:58:00 GMT (Reuters)

0

votes

View Comments (0)

Previous News | Next News

	Text Size
	Print
	Email
	Add a Comment

* Q3 EBIT tops expectations

* Sees weaker Q4 yr/yr, plans broad temporary layoffs

* says raw material prices to peak in Q4

(Adds details, wraps separate)

HELSINKI, Oct 31 (Reuters) - Finnish tyre maker Nokian Renkaat reported forecast-topping results on Friday but warned of weaker earnings to come as the financial crisis has hurt consumer confidence and demand for new cars.

"The outlook for the rest of the year has weakened due to the financial crisis," Chief Executive Kim Gran said in a statement.

Nokian said fourth-quarter profit would fall year-on-year, and it would lay off some 1,000 people for three weeks at its main Finland plant at end-2008. It added around 100 staff in its heavy tyres business would be laid off for 7-8 months in 2009.

Nokian reported third-quarter operating profit jumping 39 percent year-on-year to 71.9 million euros ($93.9 million), beating all forecasts in a Reuters poll where the average was 63 million. Net sales of 283 million were at the high end of estimates.

The tyre firm said it expects 2008 raw prices to be on average 10 percent above last year's, but it forecast for prices to peak in the fourth quarter and fall next year.

(Reporting by Helsinki Newsroom; Editing by David Cowell)

Content Provided by

Reuters

Reuters
Reuters is the largest international news agency -- providing professionals around the world with stories that move the markets.

DISCLAIMER:
(c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

Comments

Become a member and get 6 free Forex courses by OTA!

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a2ce5364' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?zoneid=46&n=a2ce5364' border='0' alt='' /></a>

Webinar

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a2ce5364' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?zoneid=46&n=a2ce5364' border='0' alt='' /></a>

	Weekly Analysis		Forex Lessons
	Site Updates

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a2ce5364' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?zoneid=46&n=a2ce5364' border='0' alt='' /></a>

Special Offers:

<a href='http://cads.forexpros.comwww/delivery/ck.php?n=a4434995' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=192&what=bannerid:351&n=a4434995' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a88fc306' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=108&n=a88fc306' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=adef65d6' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=98&n=adef65d6' border='0' alt='' /></a>

Browse The Entire ForexPros.com Site:

News

Charts

Quotes

Forex To Go

Forex Analysis

Languages

Forex Brokers

Fund Managers

Forex Trading Software

Education

Trading Tools

2007 Fusion Media Limited. All Rights Reserved About Us | Advertise | Affiliate Program | Link To Us | Webmaster Tools | Write to us | Contact Us
Risk Warning | Terms And Conditions | Privacy Policy

Risk Disclosure: Trading on margin involves high risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you before deciding to trade you should carefully consideryour investment objectives, level of experience, and risk apetite. There is always a relationship between high reward and high risk. Any type of market or trade speculation that can yield an unusually high return on investment is subjected to unusually high risk.