Canada potash fertilizer (Potash Corporation of Saskatchewan) 75% in the second quarter profit because of strong demand and fears of future supply of fertiliser prices pushed together. That productivity is Canada potash is the world's largest manufacturer of chemical fertilizers.
This increase exceeded analysts expectations, which are correspondingly increases profit target for the year. Canada potash now expects earnings per share for the whole year will reach $ 3.4 to 3.8. After the company forecast value is $ 3 per cent.
The company's second quarter profits of us $ 840 million, revenues of 96 cents per share, respectively higher than 480 million dollars during the same period a year earlier and 53 cents for the second highest record ever.
As of Thursday's early trading hours in the middle section of the company's shares rose nearly 3 percent, to $ 60.83 per share.
Earlier this year, Canada potash was "one of three" stock split. Adjusted for this, the company's current share price than in August last year Australia BHP Billiton (BHP Billiton) has been introduced at its high of nearly 40% hostile takeover bid. At that time refers to horse power to spend 40 billion dollars to acquire Canada potash.
For political reasons hindered the Canada Government finally acquisitions. Some analysts believe that horse power was about improving quote odds would be greater.
In addition to demand continues to rise, the supply-side constraints also pushed up prices of fertilisers. Canada potash said, although the estimated total potash demand this year will be between 55 to 60 million tonnes, but "our estimates that demand can be met up in the area will be affected by industries production capacity constraints."
Currently North American manufacturer's layer far below normal levels. Canada potash expected inventory of China and Latin America later this year will be reduced.
Canada potash and then said: "Although uncertainty in the macroeconomic situation sth Strong fundamentals of agriculture will continue to provide extremely favorable environment for our business."In addition to potash, the company also produces two other major crop fertilizers, nitrogen and phosphate fertilisers.
"Efforts to improve the yield of crops is necessary to meet the global demand for current and long-term food, which also brought a strong demand for three types of fertilizers, especially potassium."
BMO Capital Markets analyst Edwin Chee said in an earlier this week: "the next few months, agricultural producers is basically will operate at full capacity, which will increase the possibility of fertilizer prices continue upward in 2012."
China recently signed a new contract for the supply, price was $ 70 per tonne. Canada potash, 2012, is expected in China and India is "in a more comprehensive way" are looking for further delivery.
The company expected, fertilizer demand in other Asian markets will continue to grow, because farmers would seek the use of palm oil, rubber, sugar, rice and high prices of crops such as opportunities to profit.
Morgan Stanley (Morgan Stanley) analyst wensente · andelusi (Vincent Andrews) indicated to the customer, Canada has the capacity to increase production in the second half of this year, approximately 1.3 million tonnes of potassium fertilizers, making it difficult for third-party challenge.
Translator/he Li
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