Potash profit slips on lower earnings from overseas investments

Thu Oct 23, 2014 6:33am EDT
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Oct 23, (Reuters) - Potash Corp of Saskatchewan Inc's net income fell 11 percent, hurt by lower contributions from overseas investments and higher income tax.

The company said its investments in potash companies in Jordan, Israel and Chile contributed $24 million to third-quarter earnings, compared with $85 million a year earlier.

Net income fell to $317 million, or 38 cents per share, in the quarter ended Sept. 30, from $356 million, or 41 cents per share, a year earlier.

Income taxes rose 34 percent to $156 million.

The world's biggest fertilizer company by market capitalization said revenue rose 8 percent to $1.64 billion. (Reporting by Swetha Gopinath and Rod Nickel in Winnipeg, Manitoba; Editing by Don Sebastian)