Amman, October 27 (Petra)- Jordan Phosphate Mines Company (JPMC) has recorded a net profit of JD315.1 million through the end of the third quarter of this year.

This figure was achieved despite challenges posed by geopolitical developments in the region, sharp increases in the costs of essential production inputs, and disruptions to shipping and supply chains.

The company’s financial data shows a 7.9% increase in sales revenue, reaching JD1.101 billion, up from JD1.020 billion during the same period last year, driven by an increase in sales volume.

The sharp rise in raw material prices impacted production costs, mainly, the price of sulfur surged by 165.7%, and the cost of ammonia rose by 58.4%, compared to the same period last year.

Due to regional conditions, the company faced frequent interruptions in natural gas supplies during this period.

Consequently, the company had to harness available alternatives at an additional cost to ensure the continuity of its production lines and meet its obligations to clients in global markets.

As part of its efforts to slash expenditures, the company cut its administrative expenses by 8%, compared to the same period last year.

The company continues to implement "strategic" plans, aimed at enhancing productivity and rationalizing costs, whiich would safeguard shareholder interests and support the national economy.

//Petra// AG