APC net profits increased by 267% in first half of 2022

[31-07-2022 09:43 AM]

Ammon News - The Arab Potash Company (APC) on Saturday announced that its net profit in the first six months of 2022, after taxes, stood at JD296 million, compared to JD80 million for the same period in 2021, an increase of 267 per cent.

APC Chairman of the Board of Directors Shuhada Abu Hudeib added that the operating profit during the first half of 2022 stood at JD352 million, up from JD63 million for the same period of last year.

He also pointed to an increase in profits of affiliated companies: Jordan Bromine Company and the Arab Fertilisers and Chemical Industries Company (KEMAPCO) by 49 per cent.

APC CEO, Maen Ensour, said that the potash sales increased by 6 per cent, from 1.26 million tons during the first half of 2021 to 1.34 million tons during the same period in 2022.

Ensour presented a set of factors that contributed to increasing the company’s profits, most notably producing new types of potash fertilizers, implementing marketing policies that enabled the APC to enter new markets and managing production costs in a way that ensures the continuity of the company’s competitiveness.

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