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UPDATE 1-Fertilizer maker Agrium's profit rises nearly 9 pct

Published 2015-11-05, 07:50 a/m
UPDATE 1-Fertilizer maker Agrium's profit rises nearly 9 pct
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(Adds outlook, estimate)
Nov 5 (Reuters) - Canadian fertilizer and farm retail dealer
Agrium Inc AGU.TO reported a nearly 9 percent rise in
quarterly profit, helped by lower costs.
However, the company on Thursday narrowed its forecast for
2015 profit to $7.10 to $7.40 per share from $7.00-$7.50.
Weaker currencies in fertilizer-buying markets such as
Brazil and India are weighing down prices, leading rivals Potash
Corp of Saskatchewan POT.TO and Mosaic Co to curb
potash production amid falling sales and profits.
Agrium has focused on lowering operational costs and has
benefited from low costs of natural gas, a key ingredient in
nitrogen fertilizer production.
Expenses fell nearly 10 percent to $505 million in the third
quarter ended Sept. 30, from a year earlier.
The company's net earnings from continuing operations rose 9
percent to $99 million, or 72 cents per share.
Sales fell 13.6 percent to $2.52 billion.

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