APC achieves quantum leap, reports quarterly profits at JD145 million for first time

Arab Potash Company APC
(Photo: Jordan News)
AMMAN—The Arab Potash Company (APC) on Thursday announced that its net profit by the end of March, after taxes, stood at JD145 million for the first time in the company's history, compared to JD40 million for the same period in 2021, according to the Jordan News Agency, Petra. اضافة اعلان

APC Chairman of the Board of Directors Shuhada Abu Hudeib attributed this increase in profits to the growth of the operating profit during the first quarter of this year which reached JD176 million, up from JD28 million for the same period of last year, in addition to the increase in profits achieved by the APC's subsidiaries and affiliates.

APC CEO Maen Nsour said that the revenues of the APC rose to JD304 during the first quarter of 2022 against JD111 million for the same period in 2021.

He added that the APC managed to increase production by 4 per cent, achieving record production volumes of potash, hitting 682 thousand tons, compared with 658 thousand tons for the same period of 2021.

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