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Sidpec H1 profit slips 23% to EGP510 mln

Sidpec H1 profit slips 23% to EGP510 mln
The board of Sidi Kerir Petrochemicals (Sidpec) has endorsed financial indicators for H1-14, showing that net profit amounted to EGP 510.2 million, with a drop by 23% compared with EGP 661.5 million net profit in the same period a year earlier.
The company’s total sales amounted to EGP 1.4 billion, compared with EGP 1.5 billion in H1-13.
FY13 net profit had grown 49.3% to EGP 1.3 billion (EGP 2.21 EPS), compared with EGP 870 million (EGP 1.48 EPS) net profit in FY12.