Jordan Press Foundation's revenues reached around JD8.5m in 2019

AMMAN — The total revenues of the Jordan Press Foundation (JPF) reached JD8.5 million in 2019, compared with JD10.1 million in 2018.

The value of the JPF’s assets, which publishes The Jordan Times and Al Rai, totalled JD33.1 million in 2019, down from JD35.7 million in 2018, while the net intellectual property valued at some JD12.3 million in 2019, compared with JD19.9 million in 2018, according to the foundation’s financial report.

During a meeting of the JPF general assembly to discuss the report, which was held via video conferencing, attended by JPF Chairman Mohammad Al Tal and JPF Director General Jehad Al Share, the foundation's budget for 2019 and the annual report were endorsed.

Parts of the accumulative losses, estimated at JD13.2 million by the end of 2019, were also extinguished during the meeting, as well as amendments to the company's bylaws were made to serve distribution purposes inside and outside the Kingdom.   

Tal, in the annual report, expressed the JPF general assembly's keenness to implement all policies and measures that serve the foundation's stability.

He also highlighted the general assembly and executive management's efforts towards enhancing the competency of the technical and administrative bodies, as well as journalists' professional performance.

Highlighting operational costs reduction, the report revealed that the costs of issuing papers went down by 2.5 per cent, while the printing cost dropped by 30 per cent. 

The JPF's total losses reached JD7.6 million in 2019, in comparison with JD5.6 million in 2018.