ArabFinance: Sidi Kerir Petrochemicals Company (Sidpec) (SKPC) reported a 1,957.69% year-on-year (YoY) hike in net profit after tax for the year 2021, according to the unaudited income statement filed to the Egyptian Exchange (EGX).

Net profit after tax reached EGP 535 million in 2021, compared to a profit of EGP 26 million in 2020.

The companys revenue rose by 48.08% YoY to EGP 5.13 billion in 2021 from EGP 3.46 billion.

Established in 1997 and listed on EGX in 2005, Sidpec operates within the materials sector focusing on commodity chemicals. It has subsidiaries operating across Egypt, working on textiles and oil and gas refining.

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