February 7, 2020 / 7:19 AM / 10 days ago

Yara Q4 beats forecasts, says IPO spinoff still planned

OSLO, Feb 7 (Reuters) - Norwegian fertiliser-maker Yara reported stronger-than-expected October-December profits on Friday and said a decision on a long-planned spinoff of its industrials unit could be made by mid-2020.

Yara’s fourth-quarter profit before interest, tax, depreciation and amortisation (EBITDA) rose 24% to $525 million before non-recurring items, while analysts in a Refinitiv poll on average had expected $479 million. (Reporting by Victoria Klesty and Terje Solsvik, editing by Gwladys Fouche)

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