Cairo – Mubasher: The financial indicators of Sidi Kerir Petrochemicals (Sidpec) has shown a 33.33% year-on-year surge in net profit for the first quarter of 2018, recording EGP 284 million from EGP 214 million.
Sales increased to EGP 1.2 billion in Q1-18, versus EGP 1.13 billion in Q1-17, the company said in a filing to the Egyptian Exchange (EGX) on Thursday.
Sidpec’s profits fell 21% to EGP 1.13 billion in 2017, from EGP 1.42 billion in the year before.
The EGX-listed company aims to invest EGP 1.03 billion in 2018, according to the company's investment budget in 2018.
Sidpec’s capital amounts to EGP 1.05 billion distributed over 525 million shares at a par value of EGP 2 per share.
