K+S Raises Profit, Sales Goals as Potash Prices Improve
This article is for subscribers only.
K+S AG, Europe’s largest potash supplier, unexpectedly raised its full-year profit forecast by 12 percent as prices for the crop nutrient recovered more quickly than previously thought. The shares rose the most in almost a year in Frankfurt trading.
Earnings before interest, tax and some hedging transactions, called EBIT I, may be as much as 640 million euros ($797 million), the Kassel, Germany-based company said today in a statement. Previously K+S predicted as much as 570 million euros and a Bloomberg survey shows analysts had estimated 567 million euros.