Hydro shares leap on return to profit

Richard Orange
Richard Orange - [email protected] • 23 Oct, 2013 Updated Wed 23 Oct 2013 09:38 CEST
image alt text

Shares in Norwegian aluminium producer Norsk Hydro leapt more than five percent on Wednesday morning, after it swung back into a profit by slashing its costs and generating more hydroelectric power.


The company posted a net profit of 222 million kroner ($37.5m) for the three months from June to September, up from a net loss of 227 million in the same period in 2012. 
"This is a great achievement for Hydro and our organization," said Hydro's president and chief executive, Svein Richard Brandtzæg. "I am pleased to report that we are on track to deliver the $300 per metre cost improvements for our fully-owned smelters by the end of 2013." 



Richard Orange 2013/10/23 09:38

Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also