Phosphate company posts JD58.4 mln profit for 2018

Amman, The Jordan Phosphate Mining Company (JPMC) returned to profitability in 2018, posting net earnings of JD58.4 million after a net loss of JD44.4 million the previous year.

A statement issued by the public shareholding limited company Tuesday said the preliminary unaudited data projected a net profit of JD47.5 million and JD46.7 million in losses for the same period.

According to the figures, the total operating income topped JD674.4 million, compared to JD586 million for the comparison period.

The company’s total value of assets rose to JD1.117 billion last year after a strong operational performance, compared to JD1.78 billion in 2017.

Moreover, the statement explained that the stockholders’ equity in 2018 jumped to JD682.7 million compared to JD678.2 million in 2017.

It said in 2018, the company sold 8.6 million tons of raw phosphate, and 518,000 tons of adenosine diphosphate.

Source: Jordan News Agency