Norway's Orkla posts Q3 earnings above forecasts

OSLO Wed Oct 31, 2012 2:11am EDT

OSLO (Reuters) - Norwegian food and industrial conglomerate Orkla (ORK.OL) reported third-quarter core profit above market forecasts on Wednesday and said that its key Nordic grocery market would stay relatively stable.

Earnings before interest, tax and amortization (EBITA) rose 5 percent to 857 million Norwegian crowns ($149.64 million) in the quarter, from a restated 817 million crowns in the year-ago period and came above the 820 million crown average forecast in a Reuters poll.

The year ago EBITA figure was lowered to 817 million crowns from 1.12 billion after the company agreed to sell parts of its aluminum business Sapa and specialty chemicals unit Borregaard (BRGD.OL).

(Reporting by Oslo newsroom)

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