SASKATOON — For the fifth year in a row, Potash Corp of Saskatchewan has reported record-breaking earnings. The company’s 2008 earning were $3.5 billion or $11.01/share, three times what they were in 2007 ($1.1 billion or $3.40/share). This is the fifth consecutive year of record earnings for the world’s largest producer of potash.
PotashCorp is not immune, however, to the global economic downturn. Sales volumes during Q4 2008 were $1.4 million tonnes, down 37% from the same period a year earlier. Sales during the entire year were 8.5 million tonnes, down 9% from 2007.
Details of recent sales and earnings as well as the outlook for the fertilizer markets is available at www.PotashCorp.com in the news release dated Jan. 22, 2009.