Sidpec posts 143.8% YoY profit hike in 9 months: Egypt

Amr Dalsh

Established in 1997, Sidpec is an EGX-listed company that operates within the materials sector focusing on commodity chemicals

Staff Writer, Arab Finance

October 31, 2023

EGYPT CHEMICAL

PHOTO

Sidi Kerir Petrochemicals Company (Sidpec) (SKPC) recorded a 143.82% year-on-year (YoY) surge in net profit after tax for the first nine months of 2023, according to the unaudited financial income statement filed to the Egyptian Exchange (EGX) on October 30th.

The company achieved a net profit after tax of EGP 1.814 billion in the period from January to September, compared to EGP 744 million in the year-ago period.

Meanwhile, the company’s revenues grew by 67.74% to EGP 9.732 billion in the nine months to September 30th from EGP 5.802 billion in the same period of 2022.

Established in 1997, Sidpec is an EGX-listed company that 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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