Jordan Lafarge Cement Factories Company returns to profitability

AMMAN – Jordan Lafarge Cement Factories Company announced on Wednesday that it generated JD3.4 million in net profit last year, compared to JD26.2 in losses incurred in 2013.

Vice Chairman Ahmad Hishmat  said the company managed to overcome three years of continuous losses after taking "strict" measures, including massive cuts in expenditure and the usage of coal at the Rashadiyeh plant. However, he noted that the company is still suffering due to the closure of the Fuheis Cement Factory for two years now, expecting competition in the cement market to amplify this year because of the severe decline in the global prices of oil. Lafarge's sales stood at around JD114 million last year, compared to JD91 in 2013.