(Reuters) — U.S. fertilizer company Mosaic Co.’s quarterly profit jumped 63 percent as it sold more phosphate at higher prices.
The company’s net earnings rose to US$202 million, or 54 cents per share, in the third quarter ended Sept. 30 from $124 million, or 29 cents per share, a year earlier.
Net sales rose 21 percent to $2.3 billion.
“The improving demand momentum for both potash and phosphates that started in the fourth quarter of 2013 continued,” chief executive officer Jim Prokopanko said in a statement.
“We are on pace to deliver more tonnes this year than in any of the last five years, and close to the records of 2008.”
