Potash Corp. of Saskatchewan Inc. reported today 34.4% increased but weaker-than-expected Q4 2011 earnings year on year as demand for fertiliser minerals dropped owing to global economy uncertainty.
The Canadian company’s Q4 2011 earnings jumped to $683m, or $0.78 a share, from $508m earned in the same quarter of 2010, but this was lower than the $0.88 a share predicted by analysts.
Pointing out a “cautious environment”, PotashCorp explained that the typical seasonal slowdown in global fertiliser demand during the last quarter was exacerbated by near-term macroeconomic uncertainty. As a result, buyers “paused to assess market conditions” while phosphate and nitrogen prices dropped.
“The drag of global economic concerns shook the confidence of fertiliser buyers and caused a greater...