The Arab Potash Company (APC) increased its year-to-year annual profits by 31 percent when it earned JD 131 million after taxes in 2015 compared to 2014’s JD 99.7 million. APC’s Chairman of the Board, Jamal Al Sarayreh, said that the company had significantly decreased the product cost last year through the delay of sail dredging activities and efficiency of production. The most important of these activities was the achievement of a record production volume, which reached up to 2.355 million tons.
APC’s profit margin increased from 26 percent to 40 percent in 2015 thanks to cost management policies as well as the rising global sale price of potash during the first part of last year despite lower sales volumes and revenues compared to 2014. Mr Al Sarayrah said that these profits have also resulted in a significant contribution to the Government of Jordan Treasury, which reaffirmed the APC’s position as one of the Kingdom’s top contributors.
The company also retained its leading role in supporting local community development and improving services to local communities, which the company says is one of its core values. The Board of Directors also gave a green light to the JD 10-million budget for the company’s 2015 corporate social responsibility program, which focuses on sustainable projects that will bring long-term benefits for the Jordanians.
The APC moreover revealed that its future plans focused on investing in the expansion of its asset base in the south of the country. More than JD 1 billion was allocated on various capital projects that will be completed in the next several years including projects aiming to increase production capacity by 245,000 tons and raise the production capacity of granular potash by 250,000 tons per year. The Amman-based Arab Potash Company is the eighth largest potash producer worldwide by volume of production and the sole Arab producer of potash.
