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Arab Potash reports lower earnings on higher energy costs and lower prices

7:39 AM MDT | August 4, 2014 | Natasha Alperowicz

Arab Potash Co. (Amman), a major producer of potash, reports a 4% increase in output in the first six months of the year, to 1.01 million m.t., and a 9% rise in sales to 1.19 million m.t. Revenues, however, were down 16%, to 278.2 million Jordanian dinars ($392.5 million). The company reports a major drop in consolidated profit before tax, from JD107.4 million in the first six months of 2013 to JD49.6 million in the corresponding period of this year. Net profit was down 54%, to JD43.2 million. The company cites lower selling prices and increased production costs...

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