Cairo – Mubasher: The board of Sidi Kerir Petrochemicals (Sidpec) approved the operating budget for 2023, aiming to achieve EGP 889.64 million in net profits.

The EGX-listed company also plans to record EGP 9.41 billion in this year’s sales, according to a stock exchange statement on Tuesday.

During the first nine months (9M) of 2022, Sidpec reported a 107.82% annual surge in net profits after tax at EGP 744 million, compared to EGP 358 million in the same period in 2021.