September 28 2022 6:49 AM E-paper Subscribe Sign in My Account Sign out

APC in Numbers

Salameh daraawi
Salameh Darawi (Photo: JNews)
The COVID-19 pandemic generally took the business sector by storm as a result of the worldwide lockdowns that were not limited to the Kingdom. But the pandemic’s aftermath did not affect companies that elected a sound economic and administrative course, like the Arab Potash Company (APC) whose productivity and sales, which were at an all-time high for the company, were not affected along with its solvency.اضافة اعلان

Several public shareholding companies could not distribute dividends to preserve their liquidity, in comparison to the APC, which succeeded in distributing JD83 million in dividends, amounting to 100 percent of its capital. The company did so after it recorded JD127 million in net profit last year, after tax deductions, allocations and mining fees.

Last year, the APC maintained its profitability indicators at their highest, compared to companies listed in the Amman Stock Exchange.

The company’s financial achievements point to a sound approach to administration and governance in the midst of the pandemic, because despite lockdowns, the company managed to conclude deals for the export of potash to new international markets.

But the company also sustained its corporate social responsibility, especially prominent in giving JD30 million worth of aid to support the government’s efforts in combating the effects of the pandemic.

This major contribution indicates investors’ faith in the efficacy of the company’s plans, but more importantly, investors’ faith in their peers.

To counter the pandemic and move forward with its achievements, the company relied on three key axes in its work; supporting the foundations on which the company’s key activities were created, expansion through a diversification of products and preparation for inevitable change. Combined, these elements are a sign of a sound approach.

APC is a vital company with clear contributions to supporting the Treasury, and along with distributing notable profits to its shareholders, the opportunity to market its products is currently the subject of intense international competition.  

The company’s executive plans are also indicative of a sound approach as the pandemic has driven several companies to downsize or slash production to maintain their liquidity.

APC has walked a clear path based on appropriate management, which is what most companies need to move forward against any challenges they may face. Therefore, COVID-19 is considered the greatest test standing in the way of companies wishing to prove the efficacy of their plans.