Jordan Phosphate Mines Company posts sharp fall in net profit in 2013

AMMAN — Net profit generated by Jordan Phosphate Mines Company plunged last year to JD1.159 million from JD131.7 million in 2012, according to a statement published on Amman Stock Exchange website. The company’s revenues dropped to JD573 million in 2013 from JD759.4 million in 2012, it pointed out. The company attributed the lower revenues to a drop in phosphate sales, higher production costs mainly the energy bill, an increase in mining taxes as well as the decline in international prices of phosphate.