LONDON (ICIS)--Arab Potash Company (APC) posted during the January-June period an increase in net profit of 30%, year on year, to Jordanian dinar (JD) 52.7m ($74.3m), the Middle Eastern muriate of potash (MOP) major said on Tuesday. The Jordanian producer attributed the increase to strong sales for the first half, totalling 1.2m tonnes – a 4% year-on-year increase – supported by a 10% increase in production, to 1.21m tonnes. APC also reduced the cost of production by 5% per tonne, thanks to “energy saving solutions”. The company used the announcement to reiterate its plans to study the Lisan peninsula, in co-operation with the Jordanian government, with the aim of expanding its capacity beyond the planned 180,000 tonne/year expansion project already in progress. (JD1 = $1.41)
Arab Potash Company reported a 30% increase in H1 net profit to JOD52.7m ($74.3m) thanks to higher sales, increased production and reduced costs. The company said sales rose 4% YoY to 1.2 million metric tonnes (mt), as production increased 10% to 180,000 mt, and energy saving solutions saw the cost of manufacture fall by 5% per mt. The Jordan-based company said it plans to study the Lisan peninsula as it seeks to boost production beyond a 180,000 mt per year expansion currently in place.