Fertilizer Firms Expect Strong Second Half of 2012

Potash Corporation of Saskatchewan (PotashCorp) posted a 33% decline in profits, as potash buyers continued to hold off purchases and margins sunk on higher costs, although the company says inventory draw-downs and strong farm fundamentals should strengthen demand in the latter half of 2012. The company reported earnings of $491 million for its fiscal first quarter ended March 31, compared with $732 million in the same year-ago quarter. Earnings of 56 cts/share missed analysts estimates of 63 cts/share, as reported by Thomson Reuters (New York). Sale fell 26%, to...

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