Cairo – Mubasher: The financial indicators of Sidi Kerir Petrochemicals (Sidpec) on Wednesday showed a 29.4% year-on-year rise in profit for the first nine months of 2017 due to higher sales.

Net profit amounted to EFP 703 million in the nine-month period ended September, versus EGP 543 million in the prior-year period, the firm said in a filing to the Egyptian Exchange (EGX).

Sales rose to EGP 3.3 billion in the nine-month period of 2017 from EGP 2.2 billion last year.

Sidpec had previously posted that it achieved profits of EGP 607 million in the first half of 2017, compared to EGP 410 million in H1-16.