ArabFinance: Sidi Kerir Petrochemicals Company (Sidpec) (SKPC) posted a 94.66% Year on Year slump in its net profit in 2020, according to the companys unaudited financial statements filed to the Egyptian Exchange on February 17th.
Net profit stood at EGP 26 million in 2020, compared to EGP 487 million in 2019.
Sidpec suffered a net loss after tax of EGP 75 million at the end of September 2020.
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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