Norsk Hydro Posts Narrower Q2 Net Loss

Norwegian aluminum producer Norsk Hydro ASA NHYDY posted a narrower second-quarter net loss. Norsk Hydro posted a quarterly net loss of NOK637 million, versus a year-ago net loss of NOK1.6 billion. Its underlying earnings before interest and taxes fell to NOK518 million from NOK549 million. Its revenue declined to NOK16.05 billion from NOK21.6 billion. However, analysts were expecting a net profit of NOK291 million on revenue of NOK16.23 billion. Norsk Hydro shares closed at $4.25 yesterday.