Yara International Q4 Net Profit Down 36%

Yara International ASA

reported a 36% drop in its fourth-quarter net profit. Yara's quarterly net profit fell to 2.17 billion Norwegian kroner ($394 million), from NOK3.39 billion, in the year-ago period. Its revenue rose to NOK20.97 billion, from NOK20.73 billion. However, analysts were expecting a net profit of NOK2.13 billion on revenue of NOK19.99 billion. Its earnings before interest and taxes declined to NOK2.73 billion, from NOK4.18 billion. Yara proposed a dividend of NOK13 per share, versus NOK7 in the year-earlier period. Yara shares closed at $53.83 yesterday.