Jordan Daily – Jordan Phosphate Mines Co. (JPMC) reported a net profit of JOD 316.6 million after tax for the first nine months of 2024, with gross profits before tax reaching JOD 490.4 million. In the third quarter alone, the company achieved a gross profit of JOD 182 million and a net profit of JOD 114.7 million, reflecting a nearly 4% increase compared to the same period in 2023.
The company’s consolidated financial data revealed total group sales amounting to JOD 857.8 million by the end of the third quarter. Despite a significant decline in global fertilizer prices, coupled with rising maritime insurance and shipping costs, JPMC managed to generate substantial returns on capital. The company’s earnings per share for the first nine months exceeded 127% of the share’s nominal value.
JPMC’s performance showed positive indicators in phosphate production, export volumes, phosphoric acid, and phosphate fertilizers, marking improvements compared to the same period last year. These results underscore the company’s ability to efficiently execute its strategic plans.
The company is currently expanding its phosphoric acid production capacity at its Aqaba Industrial Complex and constructing a new sulfuric acid unit at its Indo-Jordanian Chemical Company’s factories, alongside expanding phosphoric acid production facilities.
