Weak fertiliser market cuts ABB earnings

ABB Grain has reduced its 2009 earnings forecast for the second time in as many months, citing a downturn in the global fertiliser market.

  

The listed grain marketer expected after tax profit to be in the order of $33m-$43m, compared with an earlier forecast of $43m-$53m.

In May, the company predicted an after tax profit of $53m-$63m.

"The global fertiliser industry has experienced a severe contraction in prices this...

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