Cairo – Mubasher: Sidi Kerir Petrochemicals (Sidpec) on Sunday posted a 21% year-on-year drop in profits for 2017.
Net profit stood at EGP 1.13 billion last year, versus EGP 1.42 billion a year earlier, Sidpec said in a filing to the Egyptian Exchange (EGX).
Revenues increased to EGP 5.018 billion in 2017, from EGP 3.4 billion in the year before.
The Egypt-based company had previously reported an EGP 703 million in profits for the January-September 2017 period, against profits of EGP 543 million in the same period of 2016.
The producer of petrochemical products is targeting investments worth EGP 1.03 billion as part of its 2018 investment budget.
