Finnish winter tyre specialist Nokian Renkaat reported its fourth-quarter profits fell less than expected and proposed an annual dividend above the market consensus.
The company posted a fourth-quarter operating profit of 77.5 million euros (US$88 million), compared to 93.2 million a year ago and 72.9 million euros expected by analysts in a Reuters poll.
It proposed an annual dividend of 1.45 euros per share, unchanged from a year ago and ahead of the market view of 1.34 euros.
Nokian said it expected its sales and profit, with stable exchange rates, to decline slightly this year, and that its first-quarter profit would fall clearly year-on-year due to the delayed start of winter tyre sales in Russia. (US$1 = 0.8816 euros)