JPMC's pre-tax profits recorded JD264m in 1st half of 2024

AMMAN — The Jordan Phosphate Mines Company (JPMC) achieved total pre-tax profits exceeding JD264 million and net post-tax profits of around JD202 million during the first half of 2024, according to a disclosure on the Amman Stock Exchange website.

Company's data showed that net sales during the first half of 2024 amounted to JD552 million, achieving substantial returns on capital; the share's profit for the first half of this year amounted to 81 per cent of its nominal value, despite the noticeable increase in the cost of sales ratio due to the significant decrease in global prices of its products and the rise in shipping and marine insurance costs during the first half of 2024.

The company's results showed positive indicators in production, marketing, and financial data for the first half of this year, confirming the feasibility and executability of the company's plans.

The company increased its production of raw phosphate at the end of the first half of this year to 5.549 million tonnes, an increase of 38,000 tonnes from the same period last year, which was 5.511 million tonnes, surpassing the 2024 production plan by 3.8 per cent.

According to its results, the company also recorded an increase in the quantities of exported raw phosphate in the first half of this year, reaching 3.405 million tonnes, an increase of 32,000 tonnes compared to the same period last year, which was 3.373 million tonnes.

The company's marketing plan achievement rate reached 108 per cent, as shown by the results, due to its policy of opening new markets and improving and diversifying production processes to enhance the competitiveness of phosphate sales in global markets.