(Reuters) - OSLO, July 24 - Norway's Norsk Hydro said
quarterly operating profits fell 9 percent, in line with
analysts' forecasts as a strong crown outweighed firm oil and
metal prices, and reaffirmed its 2007 output targets.
The industrial group, which is selling its oil and gas
business to former rival Statoil for $36 billion, has
benefited from high aluminium prices as it seeks to remodel
itself into a focused metal group. For a second consecutive
quarter its aluminium business proved more profitable than
expected.
Read more at Reuters.com Mergers News
quarterly operating profits fell 9 percent, in line with
analysts' forecasts as a strong crown outweighed firm oil and
metal prices, and reaffirmed its 2007 output targets.
The industrial group, which is selling its oil and gas
business to former rival Statoil for $36 billion, has
benefited from high aluminium prices as it seeks to remodel
itself into a focused metal group. For a second consecutive
quarter its aluminium business proved more profitable than
expected.
Read more at Reuters.com Mergers News
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