By: Liezel Hill Published on 23rd October 2008 TORONTO (miningweekly.com) – Fertiliser-products-producer Potash Corporation of Saskatchewan increased group profit in the third quarter more than five-fold, buoyed by surging potash prices and demand, as well as income from the group's offshore investments.
The $1,24-billion profit reported for the three months ended September 30 surpassed the net income of $1,1-billion earned for the whole of 2007, Potash Corp pointed out.
Cash flow from operating activities prior to working capital changes was $1,3-billion, almost four times the $336,7 million generated in the same period last year.
"The fundamentals of our business remained robust in the third quarter and continued to support demand and prices for our products, especially potash," said PotashCorp president and CEO Bill Doyle. |