LONDON (MarketWatch) -- Aluminium producer Norsk Hydro(NO:NHY 41.87, -0.73, -1.71%) said Friday that it swung to a 2009 net profit of 416 million Norwegian kroner ($70.9 million). Last year, the firm posted a loss of 3.5 billion kroner, after taking a 1.5 billion kroner pretax impairment charge.
Revenue declined to 67.4 billion kroner in 2009, from 88.5 billion kroner at the same point a year ago. “The bottom is probably behind us,” the firm said although it remained cautious on the outlook, saying that it expects challenging economic conditions in 2010.