PotashCorp Posts Gains on Higher Selling Prices

PotashCorp of Saskatchewan reported fourth-quarter net income up 34%, to $683 million (78 cts/share), on sales up nearly 3%, to $1.87 billion. Despite higher realized prices, significantly lower sales volumes resulted in a potash gross margin of $486 million, down from $536 million in the fourth quarter of 2010. With dealers limiting purchases, fourth-quarter potash sales volumes of 1.6 million m.t. fell short of the 2.4 million m.t. sold during the final quarter of 2010.   "The drag of global economic concerns shook the confidence of fertilizer buyers...

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