Jordan-based potassium chloride manufacturer Arab Potash Company (APC) reported a net loss of JOD 55.9 million (USD 79 million/EUR 65.7 million) for 2003, compared to a net profit of JOD 15.4 million …
Jordan-based potassium chloride manufacturer Arab Potash Company (APC) reported a net loss of JOD 55.9 million (USD 79 million/EUR 65.7 million) for 2003, compared to a net profit of JOD 15.4 million (USD 21.8 million/EUR 18.1 million) in 2002, it was reported on 17 June 2004. The company“s net sales rose to JOD 155 million (USD 218.9 million/EUR 182.3 million) from JOD 142 million (USD 200.6 million/EUR 167 million), according to chairman of the board Issa Ayyoub. APC“s total expenses grew 71.8% year-on-year to JOD 218.2million (USD 308.2 million/EUR 256.6 million). Total assets stood at JOD 467.7 million (USD 660.6 million/EUR 550 million), compared to JOD 456 million (USD 644.1 million/EUR 536.2 million), while shareholder equity fell 24.8% to JOD 214.6 million (USD 303.1 million/EUR 252.4 million). APC, the world“s fifth largest potash producer, was established in 1958. The company exports 50% of its output to China and India, and also exports to Malaysia, Singapore, Indonesia, the Philippines, Spain, South Korea, Taiwan, the Netherlands, Belgium, France, Finland and Croatia. (Note: All figures/comparisons are for 2003/2002)