Nokian Tyres profit tumbles amid Russian exit


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HELSINKI, July 21 (Reuters) - Finland's Nokian Tyres (TYRES.HE) on Friday reported a sharp fall in operating profit for the second quarter, sending its shares down 8%, though it expects the second half of the year to be stronger as winter tyre sales pick up. The company reported a second-quarter operating profit of 9.5 million euros ($10.57 million) compared to a year-earlier profit of 46.9 million euros, adjusted from an initially reported loss due to the impact of its withdrawal from Russia. Quarterly net sales, excluding the impact from the exited Russian business, fell 11.8% to 293 million euros. Nokian said in April it expects the end of the year to be profitable thanks to winter tyre demand and being able to sell outsourced products. ($1 = 0.8991 euros)Reporting by Essi Lehto; Editing by Niklas Pollard, Jan Harvey, Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.