Arab Potash Co. (APC) reported a 16 percent fall in full-year 2020 net profit after tax to JD126.7 million (approximately $178.7 million at current exchange rates) on consolidated revenue of JD456.2 million, down from the year-ago JD151.7 million and JD504.6 million, respectively, according to a company filing to the Amman stock exchange on Feb.15. The results are preliminary.
APC cited lower global selling prices and increased social responsibility payments as driving the net profit decline. The 10 percent year-on-year fall in revenues was also due to the lower selling prices.
Potash output increased 5 percent last year, while sales volumes were up 6 percent on the year. The company produced 2.62 million mt of potash in 2020, up from 2.486 million mt in the previous year, while sales volumes reached 2.553 million versus 2.408 million mt in 2019.