Egypt

Sidpec records EGP 251m profits in Q1-22 unaudited financials

Published on : 2022-05-26

Mubasher: Sidi Kerir Petrochemicals (Sidpec) has achieved EGP 251 million in net profit after tax during the first quarter (Q1) of 2022, higher by 65.40% year-on-year (YoY) than EGP 152 million.

The earnings per share increased by 38.46% to EGP 0.36 in January-March 2022 from EGP 0.26 in the year-ago period, according to the unaudited financial results on Tuesday.

Revenues soared by 61.02% to EGP 2.10 billion in Q1-22 from EGP 1.31 billion in Q1-21.

In 2021, Sidpec registered net profits of EGP 535 million, a YoY leap of 1,957.69% from EGP 26 million.

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