Yara Q2 Net Profit Drops 33.2%

Yara International ASA

reported a 33.2% drop in its second-quarter net profit. Yara's quarterly net profit fell to 1.87 billion Norwegian kroner ($313.2 million), from NOK2.8 billion, in the year-ago period. However, analysts were expecting a net profit of NOK2.11 billion. Its earnings before interest and taxes declined to NOK2.55 billion from NOK3.32 billion. Yara shares closed at $42.49 yesterday.