UPDATE 1-K+S cuts top end of profit target range on low potash volumes

miércoles 11 de noviembre de 2015 03:01 GYT

* Top end of profit aim range 830 mln eur vs 860 mln prvsly

* Q3 adj EBIT 132 mln eur vs 136 mln poll avg

* Weak potash demand partly offset by strong salt business (Adds details on Q3, salt business, Brazil)

By Ludwig Burger

FRANKFURT, Nov 11 (Reuters) - German fertiliser mining group K+S, which fended off a takeover approach by Potash Corp of Saskatchewan, cut the upper end of its earnings forecast range as lower crop prices and a weak Brazilian business weighed on potash demand.

K+S on Wednesday guided for 2015 adjusted earnings before interest and tax (EBIT) of 780-830 million euros ($839-$893 million). It had previously targeted 780-860 million euros, up from 641 million last year.

Third-quarter adjusted EBIT declined 1.4 percent to 132.1 million euros, slightly below the average analyst forecast of 136 million in a Reuters poll.

"Pressure on soft commodity prices is beginning to have a negative impact on farmers' earnings prospects, prompting them to implement cost saving," K+S said in its quarterly report, also pointing to lower emerging market currencies and a credit squeeze among Brazilian farmers.

Brazil accounted for 9 percent of group revenues last year.   Continuación...