AMMAN: According to an interim summary of the consolidated income statement as of March 31, 2015, Jordan Dairy generated JD0.4 million pretax profit, double the JD0.2 million recorded at the end of March 2014. At the end of 2014, net profit was JD1.3 million, rising from JD1.1 million in 2013, JD0.7 million in 2012 and JD0.3 million in 2011.
The income statement covering the first quarter of this year, indicated that net sales rose to JD4.2 million from JD4 million in the first quarter of last year. Total sales at the end of 2014 were JD17.1 million, rising from JD16.4 million in 2013, and JD14.5 million, JD11.5 million, and JD10.6 million in the preceding years. With production costs slightly higher, gross profit during the first three months of this year came at JD0.9 million, compared to JD0.7 million during the January-March period of 2014.
The gross profit was derived about equally from two operations run by Jordan Dairy, the first being the production and distribution of fresh milk and milk products, including pasteurised milk and white cheese, in addition to the manufacture of plastic bottles for the company’s purpose. Assets of the overall business, including investment activity but excluding cash and quasi cash, totalled JD10.6 million at the end of March 2015, with the industrial share at JD5.2 million, followed by farming at JD4.5 million.
Current assets amounted to JD6.4 million, of which JD0.9 million were cash and cash equivalent, JD1.8 million net receivables, and JD1.5 million net inventory. Capitalised at JD4 million, the company’s JD9.2 million net shareholders equity included JD2.4 million retained earnings, JD1.2 million mandatory reserve, and JD1.3 million issuance premium.
