ArabFinance: Sidi Kerir Petrochemicals Company (SIDPEC) (SKPC) reported an 85% Year on Year decline in its consolidated net profit in the first nine months of 2020, according to the company’s November 9th financial statements filed to the Egyptian Exchange.
Net profit after tax stood at EGP 74,838,203 in the January-September period of 2020, compared to EGP 520,608,052 achieved in the prior-year period.
The company distributed the second tranche of its annual cash dividends on October 22nd.
Established in 1997 and listed in 2005, Sidi Kerir Petrochemicals, commonly known as 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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