| 30 Jul 2010 |
|
Jordan Press Foundation boosts net profit by 34.5%
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AMMAN (JT) -- The Jordan Press FoundationJordan Press Foundation
(JPFJPF) generated JD3.32 million net profit during the first six months of this year, 34.5 per cent or JD920,000, higher than the JD2.4 million earned during the same period of 2009.JPFJPF publishes the Arabic daily Al Rai, The Jordan Times and the children's magazine Hatem besides operating a commercial press.
Despite the increase in raw paper prices and other production inputs, the JPFJPF was able to reduce direct production costs, which reflected positively on the foundation's net and gross profits.
Sales of JPFJPF
newspapers and magazines increased and the foundation expanded its market share according to its distribution plan. Figures showed that the number of subscribers rose by 17 per cent in the first half of the year compared to the same period of last year, while direct sales went up by 4 per cent.
Forecast for the second half of 2010 indicates that growth will continue at a faster pace in line with plans set by the board of directors and applied in the management of resources and assets.
© Jordan Times 2010
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