Arab Finance: Sidi Kerir Petrochemicals (Sidpec) posted a 98.63% year-on-year increase in net profits after tax in 2023, according to the company’s financial indicators filed to the Egyptian Exchange (EGX) on January 23^rd.

Net profits rose to EGP 2.459 billion in the January-December period from EGP 1.238 billion during the same period in 2022.

Meanwhile, revenues grew 52.37% YoY to EGP 13.192 billion, up from EGP 8.658 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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