Agrium raises Q2 profit view on higher retail sales, prices

Agrium Inc , a Canada-based farm products retailer and potash miner, raised its second-quarter earnings outlook citing very strong retail sales and increasing nutrient pricing.

Agrium, the largest North American farm products retailer, now expects to earn $4.10-$4.40 per share, compared with its prior view of $3.38-$3.88, it said in a statement issued late Sunday.

"Record global crop prices are driving demand for all crop inputs," Agrium CEO Mike Wilson said,

The Calgary, Alberta-based company, which produces potash, nitrogen and phosphate, forecast first-half earnings of $5.12-$5.42 per share. It had earlier expected $4.40-$4.90 a share.

Read Full Article from Reuters

- Posted: 2011-06-20 09:35:09

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