Amman: The Jordan Phosphate Mines Company (JPMC) reported a pre-tax profit of JD264 million for the first half of this fiscal year, with net profits post-tax standing at JD202 million, according to a disclosure on the Amman Stock Exchange website.

The financial data indicated that JPMC’s net sales for the period amounted to JD552 million, demonstrating robust returns on capital. Earnings per share for the first half reached 81 percent of the nominal value, despite a notable increase in the cost of sales relative to revenue.

This rise was attributed to a significant global decline in product prices and elevated shipping and marine insurance costs during the same period.

Operational metrics for JPMC in H1 showed positive trends across production, marketing, and financial performance, validating the strategic plans laid out by the company.

Notably, raw phosphate production increased to 5.549 million tons, up by 38 thousand tons compared to the same period last year, marking a 3.8 percent surplus over the 202
4 production plan.

Export volumes of raw phosphate also saw an uptick, reaching 3.405 million tons, a rise of 32 thousand tons year-over-year. The marketing plan achievement rate stood at 108 percent, driven by the company’s strategy to penetrate new markets, enhance production processes, and diversify offerings to boost global competitiveness.

Additionally, the production of Diammonium Phosphate (DAP) fertilizer surged to 331,750 tons in H1, reflecting a 14 percent increase from 290,810 tons in the previous year.

This represents a 103.7 percent accomplishment of the 2024 production plan, bolstered by advancements in production techniques and the integration of modern technology.

DAP fertilizer sales volumes reached 335,777 tons, a 12 percent rise from the previous year’s 299,841 tons, meeting 105.6 percent of the marketing plan for 2024. This was attributed to the company’s initiatives in market expansion and production enhancement to elevate the competitiveness of fertilizer sales globally.

The Japanes
e Jordanian Fertilizer Company, a JPMC affiliate, reported a 15 percent increase in production to 144,199 tons in H1, up from 125,835 tons in the same period last year.

Sales volumes for the company climbed to 151,522 tons, a 12 percent year-over-year increase from 135,567 tons.

Petro Jordan’s phosphoric acid sales exhibited a substantial improvement, recording 96,244 tons in H1, a 23.7 percent rise from the previous year’s 77,804 tons.

This achievement represents a 103.49 percent realization of the marketing plan for 2024, underscoring JPMC management’s commitment to monitoring and enhancing performance across its subsidiaries and allied companies through ambitious and meticulously planned initiatives.

Source: Jordan News Agency