April 29, 2020 / 5:28 AM / a month ago

Norsk Hydro Q1 tops forecasts, says coronavirus causes uncertainty

OSLO, April 29 (Reuters) - Norwegian aluminium producer Norsk Hydro reported a jump in first-quarter operating profit on Wednesday, boosted by cost cuts and a weak currency, but cautioned that the COVID-19 outbreak is hitting global demand for the metal.

Underlying earnings before interest and tax rose to 2.25 billion Norwegian crowns ($217 million) in the January-March period from 559 million crowns a year earlier, beating the 1.17 billion crowns expected by analysts in a company-provided poll. ($1 = 10.3636 Norwegian crowns) (Reporting by Victoria Klesty and Terje Solsvik; Editing by Muralikumar Anantharaman)

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