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Thursday, April 24, 2008

Potash profit soars, boosts 2008 outlook

TORONTO, April 24 (Reuters) - Potash Corp of Saskatchewan (POT.TO: Quote, Profile, Research) said on Thursday its first-quarter profit nearly tripled and it ratcheted up its outlook for the remainder of the year because of soaring prices and demand for fertilizer to boost crop yields.

Potash, the world's largest fertilizer company, said it earned $566 million, or $1.74 per share, for the quarter ended March 31, up from $198 million, or 62 cents a share a year earlier.

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