K+S Q2 profit above forecast on fertiliser demand
FRANKFURT, July 30 |
FRANKFURT, July 30 (Reuters) - German potash miner K+S AG reported better-than-expected quarterly sales and operating profit, helped by demand for its fertiliser minerals.
Second-quarter revenues rose to 996.5 million euros ($1.23 billion) above the 906.8 million euro consensus forecast in Thomson Reuters StarMine.
K+S also said that earnings before interest and tax, adjusted for currency hedging effects, came in at 219.8 million euros, above the 186.1 million euro average estimate of 23 banks and brokerages posted on K+S's website.
The shares rose 4.9 percent to 41.40 euros at 1152 GMT.
K+S, which also confirmed its full-year outlook, is due to release detailed second quarter results on August 14.
($1 = 0.8084 euros) (Reporting by Ludwig Burger)
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