Amman, Jordan – 31 October 2011 - Arab Potash Company has reported strong sales results for the 3rd quarter of 2011. As a result, earnings per share in the publicly traded company have nearly doubled compared to last year, rising to JD 2.605 from JD 1.410 per share.

During the first nine months of 2011, production witnessed a considerable increase of 23.9%, with 1,673.5 tons compared to 1,350.3 tons in same period of 2010, aligned with the increase in the global demand. Sales volume experienced excellent growth, with 1,694.1 tons compared to 1,505.9 tons a year ago, a 12.5% increase. Simultaneously, potash sales prices also weathered a 15.8% increase and averaged at USD 415.6 per ton.

APC’s sales revenue registered an increase of 36.4% from last year, with JD 522.8 million of revenue compared to JD 383.2 million in 2010. The Consolidated Net Income of APC after tax was JD 217.1 million, an increase of 84.8%, compared to last year, while profit before tax was JD 247 million, an increase of 80.5% compared to last year.

Through its wholly owned subsidiary KEMAPCO, APC sold 91.6 thousand tons of potassium nitrate (“NOP”) and dicalcium phosphate (“DCP”), with sales revenue of JD 55.7 million, an increase of 39.6% over the same period last year.

APC was founded in 1956. The company began commercial production in 1983 and has the capability to produce 2.5 million tons of potash annually.

The Company’s unaudited Interim Consolidated Financial Statements for Q3, 2011 are available here.(English , Arabic)....