Cairo – Mubasher: The financial indicators of Sidi Kerir Petrochemicals (Sidpec) have shown a 12.2% year-on-year increase in net profit for the first half of 2018.

The company logged EGP 681 million in net profit during the six-month period ended June, versus EGP 607 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX) on Monday.

Moreover, sales rose slightly to EGP 2.7 billion at the end of June from EGP 2.6 billion in H1-17.

The financial indicators of Sidpec previously showed a 33.33% year-on-year surge in net profit for the first quarter of 2018, recording EGP 284 million from EGP 214 million.

Sales increased to EGP 1.2 billion in the three-month period ended March, versus EGP 1.13 billion in Q1-17.

Sidpec’s profits fell 21% to EGP 1.13 billion in the full-year ended December, from EGP 1.42 billion in 2016.