Yara Posts Drop In Q4 Profit

Yara International ASA

reported a drop in its fourth-quarter net profit. Yara's quarterly net profit fell to 59 million Norwegian kroner ($9.6 million), from a year-ago net profit of NOK2.17 billion. However, analysts were expecting a profit of NOK945 million. Its revenue slipped to NOK20.47 billion versus NOK20.86 billion, versus estimates of NOK21.77 billion. Yara's earnings before interest and taxes tumbled to NOK544 million, from NOK2.15 billion. Yara's shares closed at $44.04 yesterday.