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Sidpec’s profit jumps 65.4% in H1-22 unaudited results

Sidpec’s profit jumps 65.4% in H1-22 unaudited results
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Cairo – Mubasher: Sidi Kerir Petrochemicals (Sidpec) recorded a 65.37% year-on-year (YoY) leap in its net profit after tax during the first half (H1) of 2022 at EGP 468 million, compared with EGP 283 million.

Revenues amounted to EGP 3.87 billion in the first six months (6M) of 2022, an annual surge of 45.28% from EGP 2.67 billion, according to the unaudited financial results on Thursday.

Additionally, the earnings per share (EPS) rose by 37.50% YoY in H1-22 to EGP 0.66 from EGP 0.48.

During the first quarter (Q1) of 2022, Sidpec reported net profits after tax worth EGP 251 million, a hike of 65.40% from EGP 152 million in Q1-21.