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Yara Reports Big Decline in Net Income; Fertilizer Sales are Picking Up

2:00 AM MDT | October 20, 2009 | Natasha Alperowicz

Yara has reported third-quarter net income after minority interest of NK349 million ($62.8 million), equivalent to NK1.21 per share, compared with NK3.2billion, NK10.91 per share, in the corresponding period of last year. Ebitda for the quarter was NK860 million compared with  NK6.1 billion in the third quarter of 2008. "Our third-quarter results were non-satisfactory, mainly due to NPK sales being hampered by high potash prices," says Jorgen Ole Haslestad, president and CEO of Yara. Fertilizer sales are picking up as pipeline effects come to an...

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