Jan 26 (Reuters) - Potash Corp of Saskatchewan Inc reported a 70.7 percent drop in fourth-quarter profit on Thursday, hurt by weaker prices for crop nutrients.
The company’s net earnings plunged to $59 million, or 7 cents per share, in the quarter ended Dec. 31, from $201 million, or 24 cents per share, a year earlier.
The world’s biggest fertilizer company by capacity said its sales fell 21.9 percent to $1.06 billion.
The company also said that it determined in the quarter that the carrying value of certain assets should be assessed for potential impairment.
Potash said the assessment is ongoing, with a particular focus on phosphate, and said it expects to complete it no later than late February. (Reporting by John Benny in Bengaluru; Editing by Maju Samuel)