Sidi Kerir Petrochemical Company’s (Sidpec) profits reached EGP 703 million in the first nine months of 2017, according to the company’s market filing, Amwal Al Ghad reports.
Measured in EGP, Sidpec’s profits rose 29% year-on-year (y.o.y) from the EGP 543 million it earned during the same period last year, according to Amwal Al Ghad.
Net revenues reached EGP 3.32 billion during the first nine months of the year, up 48% y.o.y from revenues of EGP 2.24 billion in 2016.
In July, a fire broke out at the company’s ethylene-production unit. Forty-four employees were injured during the fire, but production at the site has been fully resumed.
Sidpec is a government-owned company that specializes in the production of petrochemical products.