Arab Potash Company makes JD296 million in net profits this year

Arab Potash Company APC
(File photo: Jordan News)
AMMAN — The Arab Potash Company has issued its financial report for the first six months of this year, which showed that it achieved JD296 million net profits after deducting taxes, provisions, and mining fees, while it had made only JD80 million in the same period of last year, a 267 percent increase, according to Khaberni News.اضافة اعلان

Chairman of the Board of Directors of the Arab Potash Company Shehada Abu Hadeeb, said the government’s continued support helped boost the company’s competitiveness, and its production and investment capabilities, thus benefiting the national economy, the company's investors, its employees, and the surrounding communities.

Abu Hadeeb said that operating profit from potash operations at the end of the first six months of this year grew by 458 percent to approximately JD352 million, compared to JD63 at the same time last year.

He noted the strategic importance of the company, due to its association with global food security.

The food and geo-political challenges that are facing the world have highlighted the importance of fertilizers, and the Arab Potash Company’s role in contributing to the supply of potash to global markets, he said.

In addition to that, the company is playing an increasingly important role in supporting the national economy. The company has fed approximately JD1.2 billion in foreign currency to the banks, and has an important contribution to society, through its support for many development sectors and its empowerment of communities throughout the Kingdom.

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