Amman:Jordan Phosphate Mines Company (JPMC) has reported a net profit of JD315.1 million for the first nine months of the year. This financial achievement comes in the face of various regional geopolitical challenges and significant increases in production input costs.
According to Jordan News Agency, the company experienced a 7.9% increase in sales revenue, reaching JD1.101 billion, up from JD1.020 billion in the same period last year. This growth was primarily driven by an increase in sales volume.
The rise in raw material costs significantly affected production expenses, with sulfur prices surging by 165.7% and ammonia costs rising by 58.4% compared to last year. Additionally, regional conditions led to frequent disruptions in natural gas supplies, prompting the company to seek alternative solutions at extra costs to maintain production and meet global client obligations.
In response to these challenges, JPMC reduced its administrative expenses by 8% compared to the previous year. The company is also implementing strategic plans to enhance productivity and rationalize costs, aiming to safeguard shareholder interests and bolster the national economy.