35.8 million dinars, net profit of phosphates during the first quarter

The Chairman of the Board of Directors of the Jordan Phosphate Mines Company, Dr. Muhammad Al-Thunaibat, said that the company achieved during the first quarter of this year 35.8 million dinars, net profits after income tax.

He added that the company’s profits for the first quarter of this year came with an increase of 47.5 million dinars over the same period last year 2020, and an improvement of 407%, after the company recorded an 11.7 million dinars loss during the first quarter of last year.

Dr. Al-Thunaibat indicated that the value of the company’s sales increased during the first quarter of the current year 2021, by 52.6 million dinars, with an improvement of 40% compared to the same period last year 2020.

He explained that the company’s net sales for the first quarter of this year amounted to 184.4 million dinars, compared with 131.7 million dinars for the same period last year 2020, while the total profit increased by 246.2% during the first quarter of this year compared to the same period last year.

Dr. Al-Thunaibat indicated that the ratio of cost of sales to sales in the first quarter of 2021 decreased from 83% during the first quarter of last year 2020, to 61% during the first quarter of this year 2021.

He said that the operating profits for the first quarter of the current year 2021 increased by 49.4 million dinars compared to the same period last year, reaching 42.2 million dinars during the first quarter of this year.

In turn, the company’s CEO, Eng. Abdul Wahab Al-Rowad, said that the company was able during the first quarter of this year, to produce 2.527 million tons of crude phosphate.

See Also:  Coronavirus - Pfizer / BioNTech vaccine approved for use in UK

He indicated that the company was also able to produce 183.8 thousand tons of DAP fertilizer during the first quarter of this year, compared to 120.2 thousand tons that were produced during the same period last year 2020.

According to Al-Rowad, the company was also able to export 170.7 thousand tons of DAP fertilizer during the first quarter of this year, an increase of 7.2% over the same period last year.

Engineer Al-Rowad explained that the property rights in the company increased in value during the first quarter of this year, by 6% compared to the end of the year 2020, and by 35.8 million dinars, to reach 645.4 million dinars, while it was 609.6 million dinars at the end of last year 2020, Indicating that these results reflect a significant improvement in the financial ratios of the company, including the trading ratio, which amounted to 1.2 times.

The Jordan Phosphate Mines Company is looking forward to significantly improving its performance during the remainder of the current year in terms of production and sales, as well as reducing production costs, in order to enhance its competitiveness at the global level and enter new markets in the field of selling phosphoric acid, crude phosphates, phosphate fertilizers and aluminum fluoride. Dr. Al-Thunaibat expressed his appreciation for the efforts of all employees of the company, and their keenness to continue the wheel of production in it, and to raise the company to the best levels.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.