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Calgarybased fertilizer producer Agrium Inc sees Q4 profit jump to US200 million

CALGARY — Agrium Inc. says it reaped a substantial increase in profit last year, bolstered by a strong fourth quarter.The Calgary-based fertilizer producer and retailer, which reports in U.S. currency, had $200 million of net income in the fourth quarter ended Dec. 31, up from $51 million a year earlier. The profit amounted to $1.45 per share, up from 33 cents in the fourth quarter of 2014.For the full year, net income rose by $268 million to $988 million or $6.98 per share, up from $4.97 in 2014.Agrium and Potash Corp face earnings downdraftAgrium Inc downgraded to hold at TDAgrium Inc activist investor ValueAct happy to keep hands off and enjoy profitsAgrium’s sales were down year-over-year, to $2.4 billion in the fourth quarter and $14.8 billion in 2015. That compared with $2.7 billion in sales in the fourth quarter of 2014 and $16 billion for all of 2014.Agrium’s net income was above the estimate of $1.39 per share but sales were about $445 million below the consensus estimate compiled by Thomson Reuters.For 2016, Agrium is estimating earnings per share of between US$5.50 and $7. read more

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Wallace admits gardaí used discretion when caught on phone while driving

first_imgMICK WALLACE HAS called for an investigation into how the justice minister found out confidential information about him.It comes after Alan Shatter alleged that Wallace was cautioned for driving while using a mobile phone but did not receive any penalty points at the discretion of the gardaí.Speaking on the Today with Pat Kenny Show on RTÉ this morning, Wallace said at first he “genuinely could not recall the incident and actually thought he [Shatter] made it up”.However, following some more thought and a prompt from a journalist, Wallace remembered a day last year when he was stopped at traffic lamps at the ‘Five Lamps’ on the North Circular Road in Dublin. The deputy said he was talking on the phone and two gardaí in a patrol car pulled up beside him.The Wexford TD said he knew he was in the wrong and “rolled down the window” to speak with them:“I held up my hands and they said it was ‘ OK’ and we made small talk and the lights turned green and we pulled off.”Minister Alan Shatter made the allegations about Deputy Mick Wallace on RTÉ’s Prime Time show. (Image: RTÉ Player)He admitted that the gardaí exercised discretion in his case but was adamant that he wasn’t stopped and he did not receive a warning – like the minister for justice had implied.“Does he have a record on other politicians? Did he go looking for the information or did the gardaí officially give it to him? How did that incident – when I wasn’t even stopped or I wasn’t even warned – be on the record?” asked Wallace. “If you think that’s the way a minister should behave? I don’t.”He added that he would be filing a complaint to the Standards in Public Office Commission but he wouldn’t be calling on Minister Shatter to resign.The deputy also said he was never against discretion being used by the gardaí but called for a paper trail and more monitoring in those circumstances. He admitted that his previous call for people who received discretion to appear in court would clog up the courts system.Read: Taoiseach backs Shatter in penalty points row with Wallace>Poll: Should Alan Shatter have made his Prime Time comments?last_img read more