Potash Corp posts drop in profit, sees weaker year ahead

Thu Jan 30, 2014 6:16am EST
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Jan 30 (Reuters) - Potash Corp of Saskatchewan , the world's biggest fertilizer company, reported a sharply lower quarterly profit on Thursday and said it expected a weaker year in 2014.

Net earnings for the fourth quarter fell to $230 million, or 26 cents per share, from $421 million, or 48 cents per share, a year earlier. Those results included $60 million in severance-related costs after the company cut its workforce by 18 percent.

Revenue dropped to $1.54 billion.