Support The Moscow Times!

Russia Boosts Nokian Q1

HELSINKI — Finnish winter tire maker Nokian Renkaat reported a bigger-than-expected rise in quarterly profit thanks to strong growth in Russia.

First-quarter operating profit rose 45 percent to 105 million euros ($136.5 million). Sales grew 33 percent to 384 million euros. Sales in Russia rose 67 percent to 171.5 million euros.

Nokian Renkaat is building a new plant in Vsevolozhsk next to its old plant, and its annual production capacity in Russia is estimated to increase to 14 million tires this year from 11 million. The firm exports some 50 percent of the tires it makes in Russia.

(Reuters)

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more