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FINANCIAL NEWS
Jordan’s Potash firm logs 37 percent jump in net profit
02 Nov 2015
(MENAFN) The Jordan-based Arab Potash Company (APC) has recorded witnessed a 37 percent surge in gross profit through the first nine months as opposed to last year’s same period, based on recent reports.
Total net profit touched USD135.2 million after cutting taxes fees, achieved on the back of reduction in production costs as the qualified management sorted its tasks and priorities in the most efficient manner.
However, the company pointed to the fact that the global potash market has been lately harmed by Asian economic turmoil, but the firm nonetheless is still committed to deliver all the agreed upon quantities.
Moreover, APC’s carefully studied policies has been the main factor in raising its profit margin from 23 percent in 2014 to 40 percent in the current year, thus increasing overall profits despite low sale revenues.
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