Arab Finance: Sidi Kerir Petrochemicals (Sidpec) reported a 143.7% year-on-year increase in net profit after tax for the first nine months of 2023, according to the company’s unaudited financial indicators filed to the Egyptian Exchange (EGX) on November 6^th.

Net profits rose to EGP 1.814 billion in the January-September period from EGP 744.448 million during the same period in 2022.

Meanwhile, revenues grew 67.7% YoY to EGP 9.732 billion, up from EGP 5.802 billion.

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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