Cairo – Mubasher: Sidi Kerir Petrochemicals Company (Sidpec) achieved net profits after tax worth EGP 1.23 billion in 2022, higher by 131.40% year-on-year (YoY) than EGP 535 million.
Revenues hiked by 68.64% YoY to EGP 8.65 billion in 2022 from EGP 5.13 billion, according to the unaudited income statements that were passed by the board members during their 30 January meeting.
Furthermore, the earnings per share (EPS) stood at EGP 1.76 in the January-December 2022 period, an annual leap of 134.67% from EGP 0.75.
In the first nine months (9M) of 2022, Sidpec generated EGP 744 million net profits after tax, a 107.82% YoY jump from EGP 358 million.
The revenues enlarged by 53.94% to EGP 5.80 billion in 9M-22 from EGP 3.76 billion in 9M-21, while the EPS increased by 61.67% to EGP 0.97 from EGP 0.60.
Earlier this month, the EGX-listed firm approved the operating budget for 2023, unveiling plans to register net profits of EGP 889.64 million.
