Phosphate Mines
JOPH
JOPH
Jordan Phosphate Mines Company (JPMC) posted its financial results to the Amman Stock Exchange (ASE), reporting operational profit surge by 217.3% or JOD 22.9 million to JOD 33.5 million during the first nine months of 2014, compared to JOD 10.5 million during same nine-month period last year, according to Jordan Times.
The corporation’s profit increased to JOD 15.4 million during the third quarter of 2014, against JOD 5.3 million during the same period a year earlier, registering an increase of JOD 10.1 million.
JPMC's sales rose 25.3% to JOD 523.1 million during the first nine months of 2014, compared to JOD 417.5 million during the same period of 2013. The growth resulted from an increase in the volume of phosphate exports by 997,000 tons to 4.3 million tons at the end of the third quarter of 2014. Sales of fertilizers also jumped 61.2% to or 172,000 tons to 453,000 tons at the end of September 2014, compared to 281,000 tons during the same period of 2013.
Worth noting, the phosphate average sale price per ton fell $16 compared to the price level that prevailed at the end of third quarter a year earlier. Similarly, the fertilizer sale price dropped by $43 per ton by the end of third quarter of 2014 compared to the price level at the end of September 2013.
JPMC mentioned other factors that affected production costs such as an increase in fuel prices, higher mining fees, and a rise in water and electricity charges.
Furthermore, the phosphate third quarter output increased to 5 million tons at the end of September 2014, compared to 4 million tons during the same period a year earlier. The fertilizer third quarter output also went up to 431,000 tons at the end of September 2014 against 319,000 tons during the corresponding period of September 2013.
JPMC's total assets stood at JOD 1.2 billion at the end of September 2014, compared to JOD 1.1 billion 2013, total assets stood at the end of 2013. Total liabilities reached JOD 429.6 million at the end of September 2014, compared to JOD 350.2 million at the end of last year. Shareholders' equity rose to JOD 771 million at the end of September 2014, against JOD 762.3 million as at December 31, 2013.
The corporation’s profit increased to JOD 15.4 million during the third quarter of 2014, against JOD 5.3 million during the same period a year earlier, registering an increase of JOD 10.1 million.
JPMC's sales rose 25.3% to JOD 523.1 million during the first nine months of 2014, compared to JOD 417.5 million during the same period of 2013. The growth resulted from an increase in the volume of phosphate exports by 997,000 tons to 4.3 million tons at the end of the third quarter of 2014. Sales of fertilizers also jumped 61.2% to or 172,000 tons to 453,000 tons at the end of September 2014, compared to 281,000 tons during the same period of 2013.
Worth noting, the phosphate average sale price per ton fell $16 compared to the price level that prevailed at the end of third quarter a year earlier. Similarly, the fertilizer sale price dropped by $43 per ton by the end of third quarter of 2014 compared to the price level at the end of September 2013.
JPMC mentioned other factors that affected production costs such as an increase in fuel prices, higher mining fees, and a rise in water and electricity charges.
Furthermore, the phosphate third quarter output increased to 5 million tons at the end of September 2014, compared to 4 million tons during the same period a year earlier. The fertilizer third quarter output also went up to 431,000 tons at the end of September 2014 against 319,000 tons during the corresponding period of September 2013.
JPMC's total assets stood at JOD 1.2 billion at the end of September 2014, compared to JOD 1.1 billion 2013, total assets stood at the end of 2013. Total liabilities reached JOD 429.6 million at the end of September 2014, compared to JOD 350.2 million at the end of last year. Shareholders' equity rose to JOD 771 million at the end of September 2014, against JOD 762.3 million as at December 31, 2013.
Source:
Mubasher
