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PotashCorp says Q4 profit hit by weak prices, low margins for its fertilizers

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PotashCorp issued a financial statement Thursday showing fourth-quarter profits for 2016 were down significantly compared to the previous year.

By The Canadian Press

SASKATOON - Potash Corporation of Saskatchewan Inc. has released a preliminary financial report that shows the fertilizer company's fourth-quarter earnings were down about 71 per cent from the year earlier, mostly due to weak prices and profit margins.

Excluding asset impairment items, which haven't been calculated and not estimated in the preliminary report, PotashCorp's net income for the fourth quarter was US$59 million down from US$201 million a year earlier.

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