a Norway-based aluminium company, reported Thursday that its third-quarter net income was 797 million Norwegian kroner or 0.49 krone per share, compared to prior year's loss of 63 million kroner or 0.07 krone per share.
Underlying net income climbed 96 percent to 1.07 billion kroner from 545 million kroner last year, and earnings per share grew 53 percent to 0.50 krone from 0.33 krone a year earlier.
Quarterly revenues climbed 29 percent to 23.83 billion kroner from 18.42 billion kroner last year. The results mainly reflected the acquisition of majority of Vale's aluminium business in Brazil.
For the quarter, alumina production surged to 1,553 kmt, higher than last year's 491 kmt.
The company noted that the latest quarter was marked by higher production performance in Bauxite & Alumina, while seasonal declines and higher raw material costs had a negative impact on underlying results.
Hydro's President and CEO Svein Richard Brandtz?g said, "With current macro uncertainty, market visibility is low. We are keeping our 2011 outlook aluminium demand growth outside China of seven percent, but based on signs of weakening markets towards the end of the year, growth may come in on the low side."
豫公网安备41010502003434号