Norwegian papermaker Norske Skog posts 4Q net loss

OSLO: Troubled global papermaker Norske Skog on Thursday reported a net loss for the fourth quarter of 1.28 billion kroner ($185 million) compared to a year-earlier loss of 683 million kroner due largely to reduced accounting values for long-term contracts with electricity suppliers.

However, the Norwegian company’s shares rose more than six percent to 15.40 kroner ($2.23) in morning trading on the Oslo stock exchange because the results exceeded market expectations, and the company was upbeat in reporting increased revenues and operating income.

To the full story on International Herald Tribune, click here.

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