Norsk Hydro outlook weak after $40.8M loss

Oct 23, 2012 | 01:28 PM | Jethro Wookey

Tags  Norsk Hydro, aluminum, Svein Richard Brandtzaeg, aluminum extrusions, Orkla, Sapa, Jethro Wookey

LONDON — Norsk Hydro ASA is forecasting a weak final quarter after posting a third-quarter net loss due to lower prices and sales volumes.

Oslo, Norway-based Norsk Hydro reported a net loss of 231 million kroner ($40.8 million) in the third quarter, in contrast to net income of NOK 797 million in the corresponding period last year.

"Realized alumina and aluminum prices for the quarter clearly reflect market and macroeconomic uncertainty, hitting our weak quarterly results," chief executive officer Svein Richard Brandtzæg said in a statement.....

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