Jordan Phosphate Mines Co. (JPMC), Amman, has reported a 35 percent rise in full-year 2020 net income attributable to equity holders of the company of JD29.6 million (approximately $41.7 million at current exchange rates), up from the previous year’s JD21.85 million, according to a company filing to the Amman stock exchange.
The net income boost came despite a 5 percent fall in revenue to JD606.6 million, down from JD640.8 million.
Production of phosphate rock declined 5 percent year-over-year, to 8.73 million mt from 9.14 million mt, while fertilizer production from DAP increased 28 percent, to 707,000 mt versus the year-ago 550,000 mt.
Phosphate rock sales fell 5 percent to 8.55 million mt last year, down from 9.03 million mt. Fertilizer sales were 38 percent higher year-over-year, reaching 776,000 mt, up from 561,000 mt.