(Reuters) — PotashCorp has reported a better-than-expected quarterly profit, helped by strong potash sales and lower costs.
The company’s U.S.-listed shares rose 1.3 percent premarket.
PotashCorp said improving phosphate market conditions are expected to support better results this year.
The company reported a quarterly profit of US49 cents per share.
Potash gross margin jumped 95 percent to $445 million in the fourth quarter ended Dec. 31.
Revenue rose 23.4 percent to $1.9 billion.
The company said it expected to sell 9.2 to 9.7 million tonnes of potash this year, compared with last year’s 7.1 million tonnes. The company expects global shipments of 58 to 60 million tonnes this year.
It said it expected full-year 2015 profit of $1.90 to $2.20 per share.
Rival Mosaic Co. forecast higher-than-expected fourth-quarter profit earlier this month, while Canadian fertilizer company Agrium Inc. said it would buy back shares and pay a larger percentage of free cash flow as dividends.
