Arab Potash Company (“APC” or “the Company”) reported Consolidated Net Income of JD 70.2 million as at the first half of 2010 as compared to JD 68.5 million in the same period of 2009.
Potash production during the period was 834 thousand tonnes compared with 885 thousand tonnes for the first half of 2009, a decrease of 5.8 percent. 

Potash sales prices reflected the current market rates and averaged USD 364 per ton in the first half of 2010 compared to USD 617 for the same period in 2009, a decrease of 41%.Sales volumes rebounded in 2010, with record sales of 996 thousand tons in the first half of 2010 compared to 318 thousand tons in the first half of 2009, an increase of 213%.
On a consolidated basis, net sales revenues were JD 273.6MM, an increase of JD 126.2 million or 85.6 percent on a year-over-year basis.

The Company sold 56.3 thousand tonnes of potassium nitrate (“NOP”) and dicalcium phosphate (“DCP”) during the period which resulted in sales revenues of JD 27.8 million.

Gross profit for the first half was JD 116.4 million compared to JD 106.0 million for the same period of 2009; an increase of 9.8%, reflecting the higher volume in 2010 versus 2009 despite lower average prices.

Profit before tax was JD 81.9 million as compared to JD 80.6 million for the first half 2009.
The Company’s unaudited Interim Consolidated Financial Statements for June, 2010 are available here.(English , Arabic), the First Half report is avilable here.