Jordan Cement posts 6% lower profit in H1

Jordan Cement posts 6% lower profit in H1
Published: 27 July 2007

A statement released by the Jordan Cement Factories Company Ltd. (JCFC) said that the company has posted lower profits during the January-June period compared to the same period last year because of high production costs, particularly the rise in fuel prices.

The statement attributed the six per cent drop to the recession in the cement market and to the decline in demand in the first half of this year in comparison with that recorded in the first six months of last year. During the first half of this year, the company’s sales totaled 2.02Mt compared to 2.019Mt last year.

The company will complete its work on the second stage of a project to increase production capacity and improve environmental conditions at the Rashidiya plant this summer after work on the $40.9m first phase has been completed.