Yara Reports a Loss in the Fourth Quarter

Yara International reported a net loss of NK2.1 billion ($311 million) for the fourth quarter of 2008, compared with a net profit of about NK2 billion in the year-ago period. Fourth-quarter sales were up 9%, to about NK19 billion. The result reflects lower sales volumes, write-downs on third party-sourced inventories, and foreign exchange losses on debt, Yara says. Full-year 2008 results were at record highs for Yara, however, the firm says. Yara recorded a 36% rise in net profits, to NK8.2 billion, and a sales increase of 54%, to NK89 billion. “The...

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