Amman-based Jordan Phosphate Mines Co. (JPMC) posted a 51% decline in third-quarter net income, to JD110.46 million (approximately $155.8 million at current exchange rates) from the year-ago JD227.71 million, Jordan’s Petra news agency reported. Basic earnings per share from continuing operations were JD0.446 compared with JD0.92 the previous year.
Third-quarter
sales were down 44% year-over-year, to JD286.86 million from JD514.87 million,
with JPMC citing a marked drop in global prices for the decline.
Nine-month net income for the company fell 46%, to JD324.4 million from
JD598.51 million, while basic earnings per share from continuing operations
were JD1.311 versus JD2.418 a year ago. Nine-months sales were 34% lower year-over-year,
to JD918.61 million from JD1.4 billion.