Cairo – Mubasher: Sidi Kerir Petrochemicals Company (Sidpec) targets achieving net profits amounting to EGP 1.91 billion in 2024, according to the budgeted income statements for 2024.
The EGX-listed firm plans to generate report sales valued at EGP 13.60 billion next year, while the earnings per share (EPS) is expected to hit EGP 2.02.
It is worth indicating that the company’s board members greenlighted the annual budget during their meeting that was held on 25 December 2023.
In the first nine months (9M) of 2023, Sidpec posted 143.82% higher net profits after tax at EGP 1.81 billion, compared to EGP 744 million in 9M-22.
Revenues widened by 67.74% to EGP 9.73 billion in 9M-23 from EGP 5.80 billion a year earlier, while the basic EPS increased by 96.91% to EGP 1.91 from EGP 0.97.
