Yara Reports Fall in Second-Quarter Profits and Sales

Yara International has recorded a 74% fall in second-quarter net profits, to NK1.12 billion ($175 million) compared with the year-ago period. And sales decreased by 33%, to NK16.1 billion Second-quarter fertilizer sales volume were down 13%, to 5.2 million m.t. from the same period last year, but up 7% from first quarter this year. Fertilizer volumes in stock were reduced by 30% through the quarter as sales picked up and production was curtailed, giving a net cash flow from operating activities of NK4.27 billion. Fertilizer margins declined due to lower prices...

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