Aluminium producer Norsk Hydro reported a smaller- than-expected decline in third-quarter earnings on Wednesday, as a ramp-up in its previously shut Brazilian operation and lower input costs partly compensated for lower metals prices.
Underlying third-quarter earnings before interest and tax fell to 1.37-billion Norwegian crowns from 2.68-billion crowns a year earlier, beating the average forecast of 969-million crowns collected by the company from 14 analysts.