Shares digital

Norwegian giant makes a tidy pile

Yara International (OGJZ) Nkr 344 (£35)

Norwegian fertiliser giant Yara International has been a spectacular success. The shares have rocketed from Nkr 266 since it was tipped on 31 January 2008. It looks even better converted into sterling with a 42% jump as the pound continues to fall.

First quarter results out tomorrow (18 April) should help explain the share surge. Profits are rising faster than forecast, which should leave the PE 10% better than expected at around 13.5 for this year.

Last week Yara sold half its stake in China Blue Chemical making a £11 million profit but still wants to build a major presence in what will soon be the world’s largest economy.