Sidi Kerir Petrochemicals Company (Sidpec) (EGX:SKPC) reported a net profit after tax of EGP 283 million in the first half (H1) of 2021, versus a net loss of EGP 28 million in H1 2020, according to the company’s unaudited financial statement.
The company’s revenues jumped by 59.88% to EGP 2.67 billion during the January-June period of 2021, from EGP 1.67 billion in the same period of 2020.
On Monday, Sidpec’s extraordinary general meeting (EGM) approved to increase the company’s issued and paid-up capital by EGP 210 million to EGP 1.26 billion.
Established in 1997 and listed on EGX in 2005, Sidpec operates within the materials sector focusing on commodity chemicals. It has subsidiaries operating across Egypt, working on textiles and oil and gas refining.
