Jordan Press Foundation Al Rai achieved 485 thousand Jordanian Dinars (JD) in profit for the first half of 2013 while during the same period last year the company lost more than 994 thousand Dinars. Al Rai expects the positive trend to continue into the second half of this year.
Al Rai’s board of directors who recently announced company’s financial results also expressed their cautious optimism regarding company’s performance until the end of the year.
Al Rai’s revenue totaled 9.8 million dinars during the first half of 2013, while PBT (Profits before tax) amounted to JD 2.9 million (approximately 4 million dollars.) The positive results is achieved thanks to a series of cost cutting measures including reducing newspaper production cost by 13%. Currently the total assets of Al Rai stands at 50.1 million which shows a slight increase comparing to last year which was 49.1 million dinars.
With 58% market share Al Rai is the largest daily in Jordan. There are 6 major dailies in Jordan and Al Rai ranks number one.
The company is now focusing on finishing the construction of its new facility in Amman. Al Rai’s printing facility is expected to be operational by the end of this year. The company already invested in new KBA presses which will be installed and commissioned within next few months.
