The board of Sidi Kerir Petrochemicals (Sidpec) endorsed financial statements for the fiscal year that ended on December 31, 2014.

These statements showed that net profit fell by 23.48% to EGP 993.83 million, compared with EGP 1298.74 million a year earlier.

The company had posted a 22.9% fall in H1-14 net profit to EGP 510.2 million. It also reported 6.9% decline in revenues to EGP 1.360 billion.

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