Amman: The Arab Potash Company announced Saturday that 2023 recorded the third-highest annual operating profit at JOD306 million and netted a JOD293 million after tax and fees.
Despite the decrease in global fertiliser prices, the company achieved sales revenues at JOD793 million in 2023. The increase in selling and controlling expenses and production costs cushioned the blow of the effects of the decline in global fertiliser prices.
The Chairman of the Board of Directors of the Arab Potash Company, Shehadeh Abu Hdaib, said the company achieved “these distinguished financial results” despite the effects of the instability that the global fertiliser market is suffering from and the challenges that faced sea shipping during the past few months.
Abu Hdaib said, “We are proud of the distinguished financial results achieved by Arab Potash during 2023, which came as a result of the continuous efforts and effective plans followed by the company’s executive management to confront market fluctuations.”
He added th
at despite the negative price pressures in the global fertiliser market and logistical challenges, the company achieved “outstanding financial performance.”
He discussed the company’s “strategic” role in supporting and developing the national economy, noting that the positive financial results reflect the strength of the company and the stability of its financial and operational policies.
He discussed the company’s role in supporting the country’s overall economy, explaining that the Arab Potash Company and its subsidiaries and allied companies contributed more than $1.5 billion to the Kingdom’s foreign currency reserves in 2023.
Source: Jordan News Agency
