Al Rai returns to profitability

The Jordan Press Foundation (JPF)/Al Rai generated JD0,5 million net profit during the first half of 2013 compared with a JD1 million loss during the same period of last year. It is expected that Al Rai will keep up its positive performance during the second half of this year. JPF publishes Al Rai Arabic daily, The Jordan Times and the children’s magazine Hatem besides operating a commercial printing press. It also runs Al Rai Centre for Research. The company’s board has endorsed the results which reflect prudent and subtle policies in controlling production costs as set in the financial plan prepared since the beginning of the year. Total income amounted to JD9.8 million during the January-June period of this year, and before expenses and allocations, gross profit stood at JD2.9 million as a result of lowering production cost of newspapers by 13 per cent from the level in 2012. The company’s assets totalled JD50.1 million compared with JD49.1 million in the previous year. By capturing 58 per cent of the overall newspaper sales in the market, Al Rai tops the list of six local dailies, besides being the first in terms of advertisements and net profit, before and after tax. JPF’s 2013 plan is geared towards completing all the different requirements for Al Rai’s printing press complex in order to begin initial operation before the end of this year. By embarking into commercial operations with advanced capabilities, the printing press is qualified to enter Arab and competitive markets. Al Rai newspaper, which is the most widely read newspaper in the country, and which is distributed across the Kingdom in addition to several neighbouring Arab countries celebrated its 42nd anniversary this year