Cairo – Mubasher: Sidi Kerir Petrochemicals (Sidpec) aims at raising its profits by 13% year-on-year as part of its 2018 operational budget.

The company seeks to generate profits of EGP 927.9 million in 2018, against estimated profit of EGP 823.1 in 2017, Sidpec highlighted in a statement to the Egyptian Exchange (EGX) on Wednesday.

The Alexandria-based company plans to boost its sales to EGP 5.5 billion in 2018, versus target sales of EFP 4.5 billion in 2017.

The EGX-listed firm last posted a net profit of EGP 703 billion in the first nine months of 2017, up from EGP 543 million in the prior-year period.

Moreover, Sidpec targets investment valued at EGP 1.03 billion as part of its 2018 investment budget.