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Agrium Inc Reports Rise in Q2 Profit, Revenue; Beats Expectations

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Canadian fertilizer maker Agrium Inc (AGU.TO) reported a rise in second-quarter profit to $506 million, or $3.20 a share, from $370 million, or $2.35 a share, in the previous corresponding period.

Revenue rose 7% to $4.37 billion while potash sales volumes soared to 529,000 tonnes, from 61,000 tonnes last year.

The 2010 second quarter results included a pre-tax recovery of $57-million ($0.26 diluted earnings per share) on stock-based compensation and pre-tax gains of $8-million ($0.04 diluted earnings per share) on natural gas and other hedge positions.

Analysts on average had expected earnings of $2.77 a share, on revenue of $4.17 billion, according to Thomson Reuters I/B/E/S.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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