Jordan's JPMC profits reached $127mln in first half of 2021 — chairman

The company's sales rose during the January-June period

  
Image used for illustrative purpose. A general view of the Metlaoui phosphate production plant in Metaloui, Tunisia February 8, 2019.

Image used for illustrative purpose. A general view of the Metlaoui phosphate production plant in Metaloui, Tunisia February 8, 2019.

REUTERS/Zoubeir Souissi

AMMAN — Despite the impact of the COVID-19 pandemic during the first half of this year, the Jordan Phosphate Mines Co.’s (JPMC) net profit during the first six months hit some JD90 million.

The JPMC net profit jumped by JD110.25 million to reach JD90.092 million as the company recorded JD20.163 million in losses during the same period of 2020, Chairman of the JPMC Mohammad Thneibat said on Saturday.

The company's sales rose during the January-June period by JD 135.28 million, a 50 per cent improvement from the corresponding period in 2020, Thneibat said, according to the Jordan News Agency, Petra.

The company's net sales in the first half of 2021 stood at JD405.455 million compared with 270.171 million in the corresponding period in 2020, he noted, adding that the net profit rose by 52 per cent during the second quarter of 2021 compared with the profit generated during the first quarter of this year.

He said that the cost of sales ratio in the first half of 2021 went down by 26 per cent, showing a 32 per cent improvement. Thneibat highlighted that the operating income rose by JD122.54 million in the first half of 2021 compared with the corresponding period in 2020.

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