Nokian results 9% ahead of consensus
Nokian’s recently reported first quarter 2012 financial numbers were 9 per cent ahead of consensus when it came to pre-tax profits (EBIT). In addition the Finnish firm’s revenue result during the same period was 5 per cent higher that average of market analysts expectations. According to analysts at Morgan Stanley, Nokian’s margin was also 100 basis points better than expected at 27.3 per cent. In fact the only cloud on the horizon was said to be net debt which was weaker than estimates perhaps because of high working capital.