Egypt: Sidpec registers 7% YoY higher profit in Q1-23

Sales decreased by 4.12% YoY to EGP 3.46 billion in Q1-24 from EGP 3.61 billion, according to unaudited financial indicators

Staff Writer, Mubasher

April 30, 2024

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Sidi Kerir Petrochemicals Company (Sidpec) recorded a 7.50% year-on-year (YoY) growth in net profit after tax to EGP 559 million during the first quarter (Q1) of 2024 from EGP 520 million.

Sales decreased by 4.12% YoY to EGP 3.46 billion in Q1-24 from EGP 3.61 billion, according to unaudited financial indicators.

Earnings per share (EPS) increased by 6.45% YoY to EGP 0.66 in the three-month period that ended on 31 March 2024, versus EGP 0.62.

Sidpec posted a net profit of EGP 2.45 billion in 2023 from EGP 1.23 billion the year before.

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