APC reports JD25.7m net profit in Q1

AMMAN — The Arab Potash Company’s (APC) net profit after taxes, provisions and mining royalties for Q1, 2018 reached JD25.7 million, according to a company statement. 

In a statement carried by the Jordan News Agency, Petra, APC President and CEO Brent Heimann said the mining company has achieved a “record” volume of potash production, reaching 597,000 metric tonnes during the first quarter of 2018 compared with 557, 000 metric tonnes in the same period in 2017. 

He said the APC’s sales revenues increased by 10 per cent during the first quarter of this year compared with those of the same period last year, attributing the rise to higher potash prices at the international level.

During last week’s general assembly meeting Heimann said that APC and its subsidiary and affiliate companies boosted the Kingdom’s foreign currency reserves by $845 million in 2017.