Norwegian fertilizer producer Yara International ASA (YAR.OS)
Wednesday said agricultural markets are strong as the company
posted a rise in second-quarter net profit, helped by higher
volumes and improved margins amid a strong nitrogen fertilizer
market.
MAIN FACTS:
-The company made a net profit of NOK2.80 billion ($460 million)
for second-quarter 2012, compared with a net profit of NOK2.23
billion for the same period a year earlier.
-The average forecast in a Dow Jones Newswires/Factset poll of
eight analysts was for a net profit of NOK2.75 billion.
-Yara said it was helped during the quarter by a strong nitrogen
fertilizer market and a significant increase in sales of
Yara-produced fertilizer, especially outside Europe.
-Yara-produced fertilizer deliveries rose 14% on year.
-Revenue amounted to NOK21.42 billion, up from NOK18.63 billion
a year ago and slightly lower than expectations for NOK21.47
billion.
-Earnings before interest, depreciation and amortization totaled
NOK4.97 billion, compared with NOK3.46 billion a year ago and the
NOK4.55 billion analysts expected.
-The company said its third-quarter energy costs are expected to
be around NOK100 million lower than last year while fourth-quarter
energy costs are expected to be NOK50 million lower than a year
earlier.
-Shares Tuesday closed at NOK280.50.
-Write to Katarina Gustafsson at
katarina.gustafsson@dowjones.com
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