AMMAN May 5 Jordan's Arab Potash Company
, one of the world's largest producers of potash,
posted a 42.5 percent drop in its first-quarter net profit to 23
million dinars ($33 mln) on Monday as energy costs rose and
falling global demand weighed on output.
Sales fell 8 percent to 138 million dinars for the opening
three months of 2014 compared with the same period last year,
the firm said in a bourse statement.
Potash Corp of Saskatchewan, the world's largest producer,
owns 27.9 percent of Arab Potash. Several Arab states, including
Saudi Arabia and Kuwait, have minority holdings.
The firm's profits last year fell 34 percent to 131 million
dinars with the company saying high energy costs and weaker
global prices hurting it's bottom line.
(Reporting by Suleiman Al-Khalidi; Editing by Greg Mahlich)