Norway’s Norsk Hydro incurs €7.7m Q3 net loss

27 October 2010 07:08  [Source: ICIS news]

SINGAPORE (ICIS)--Norsk Hydro reported on Wednesday a net loss of Norwegian kroner (NKr) 63m (€7.7m) in the third quarter, a reversal of the NKr1bn profit generated in the same period last year, as heavy foreign exchange losses offset revenue gains.

Net foreign exchange losses totalled NKr246m in the third quarter, it said.

Revenues for the July-to-September 2010 period grew 10% year on year to NKr18.4m, it said.

In the first nine months of the year, Norsk Hydro had a 47% jump in net profit to NKr1.46bn on revenues of NKr56.35bn, it said.

($1 = €0.72 / €1 = NKr8.14 )

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By: Pearl Bantillo
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