Star Phoenix reports that potash is on growth cycle
Potash Corp. of Saskatchewan Inc. is entering a new era of growth, says its president and CEO, Bill Doyle.
“We believe we are going to be able to deliver for our shareholders, and for all our stakeholders, a better quality of life,” Doyle told an audience at the company’s annual shareholders’ meeting in Saskatoon.
Last month, PotashCorp reported a first-quarter profit of $556 million or 63 cents per diluted share, up from $491 million and 56 cents per diluted share earned in the same period of 2012. Sales totaled $2.1 billion, up from $1.74 billion a year ago.
In 2012 earnings were $2.37 per share.
PotashCorp is forecasting between 55 million to 57 million tonnes of global shipments in 2013, up from 51 million tonnes in 2012, and is forecasting earnings between $2.75 and $3.25 per share in 2013.
With an $8.3-billion expansion that has been ongoing since 2003 now 85 per cent complete, the company will be in a strong position to pursue future growth, Doyle said.
Besides expansions at its mines, Doyle said the company has invested in other infrastructure that includes new rail cars, a new rail yard in Indiana and expanded terminals in Vancouver and Portland, and is looking at a greenfield terminal in Prince Rupert, B.C.
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Source: Star Phoenix Newspaper
