SASKATOON – With the excitement over high metal prices, the continuing growth of potash, phosphate and nitrogen prices is often overlooked. But not by POTASH CORPORATION OF SASKATCHEWAN, which reported its second-best-ever quarterly results. PCS reported third-quarter sales of US$938.0 million or a gross margin of US$279.5 million, up 48% from the corresponding figure a year earlier. Net income for 3Q 2005 was US$130.3 million, compared with US$75.2 million for the same quarter a year earlier.
For the nine months ending Sept. 30, 2005, the company reported sales of US$2.92 billion compared to US$2.38 billion in 2004. Net income for the corresponding period was US$425.8 million in 2005 and US$198.5 million in 2004.
PCS obtained its excellent results despite the negative impact of the stronger Canadian dollar, lower production, falling demand from its largest customer, and rising raw materials prices caused by the hurricanes that hit the Gulf of Mexico in September. The company expects to produce record amounts of fertilizers this year and set another record in 2006.
Its website is at www.PotashCorp.com.