Company News

Canada's Nutrien reports profit in fourth quarter

Feb 6 (Reuters) - Canadian fertilizer dealer Nutrien Ltd reported a quarterly profit on Wednesday compared with a year-earlier loss, as it benefited from higher sales volumes and prices for its crop nutrient products.

The company, formed by the merger of Agrium Inc and Potash Corp of Saskatchewan in January last year, reported net income from continuing operations of $296 million in the fourth quarter ended Dec. 31. In the same period last year, Nutrien’s pro forma loss was $120 million.

The company recorded a $276 million write-down in the fourth quarter of 2017 related to its phosphate and sulfate business. (Reporting by Debroop Roy in Bengaluru; Editing by Sai Sachin Ravikumar)