The Jordan Phosphate Mines Company (JPMC) recorded a semi annual pre-tax total profit amounting to JD305 million and a post-tax net profit amounting to JD214.3 million, according to a JPMC disclosure published on the Amman Stock Exchange (ASE) website. The JPMC’s data reflects a clear and tangible improvement in its profits for the second quarter of this year, compared to the first quarter profits, which amounted to JD104 million, an increase of 6.3 per cent. The JPMC’s data also showed that semi annual net sales amounted to JD632 million, indicating an improvement in sales for the second quarter, which amounted to JD318.5 million, compared to JD313.5 million in sales in the first quarter. The JPMC was able to achieve rewarding returns on capital, as the share of profits per share amounted to 87 per cent of the nominal value of the share in the first half of 2023, despite the significant increase in sales to sales cost ratio due to the significant decrease in its products’ prices globally in the first half, which neare3d 30 per cent in the first half of this year.

Source: Jordan News Agency