Cairo – Mubasher: The unaudited financial results of Sidi Kerir Petrochemicals (Sidpec) reported a 43% year-on-year drop in its net profits during the first nine months of 2019.
Net profits retreated to EGP 521 million in the nine-month period ended 30 September, compared to EGP 922 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.
Meanwhile, the company generated EGP 3.9 billion in revenues in the January-September period, down from EGP 4.2 billion in the corresponding period a year earlier.
It is worth mentioning that during the first half of 2019, Sidpec posted a net profit of EGP 453.2 million, compared to EGP 680.83 million in H1-18.
