Arab Potash Co. announces financial results covering 1st nine months of 2015

AMMAN — The Arab Potash Company (APC) generated around JD96 million net after-tax profit during the first nine months of this year. The amount was 37 per cent higher than the JD69.7 million posted during the same period of 2014, when, the Jordan News Agency, Petra, reported.

APC Chairman Jamal Sarayrah attributed the noticeable improvement in operational costs to production efficiency and cost management. Combined with higher international prices of potash, APC's profit margin went up from 23 per cent in 2014 to 40 per cent in 2015 despite a drop in sales and earnings,

Sarayrah told Petra. He noted that income tax increased to JD22.4 million during the January-September 2015 period, compared to JD8.7 million during the same period of 2014.

Mining revenues at the end of the end of September 2015 were double those the company paid during the same period of 2014, registering JD17 million from JD8.5 million, Sarayrah pointed out.

The company's board of directors agreed to increase allocations for social responsibility programmes from JD7.5 million to JD10 million, the chairman told Petra.