Mosaic Profit Jumps 77% on Higher Fertilizer Demand

MarketWatch reported that Q1 profits for Mosaic Corp. (NYSE:MOS) were up 77% on increased demand for fertilizer.

The market news is quoted as saying:

For the quarter ended Aug. 31, Mosaic reported a profit of $526 million, or $1.17 a share, up from $297.7 million, or 67 cents a share, a year earlier. Net sales climbed 41%, to $3.08 billion. Last week, the company offered a rosy preliminary outlook for the quarter, at the time estimating earnings of $1.17 a share on revenue of $3.1 billion.

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