Arab Finance: Company announced Sidi Kerir Petrochemicals – Sidipec (SKPC) On the approval of the Extraordinary General Assembly, held on 08/29/2024, to increase the issued and paid-up capital from 1,512,000,000 pounds to 1,814,400,000 pounds, an increase of 302,400,000 pounds, distributed among 756 million shares with a nominal value of 2 pounds per share, with a sale of 1 share for every 5 shares, according to statement Egyptian Stock Exchange.
About the results of its operations during the period from 01/01/2024 to 03/31/2024 It showed achieving a net profit of 559.473 million pounds, compared to the company achieving a net profit of 520.325 million pounds during the period from 01/01/2023 to 03/31/202.
Regarding unaudited business results indicators for the fiscal year ending on 12/31/2023, it revealed that a net profit amounted to 2.459 billion pounds, compared to a net profit of 1.238 billion pounds during the comparative period of the previous fiscal year, according to For a statement Egyptian Stock Exchange.
Sidi Kerir Company is the first integrated step in the petrochemical industry in Egypt. It always seeks to participate in achieving national goals such as producing value-added products using available raw materials, as well as developing local industries that rely on those products. The company produces polyethylene (high-density and low-density linear ) Using ethylene, which is produced by processing ethane/propane gases – coming from the Western Desert Gas Complex, “GASCO Company” – within the framework of the best production technologies based on energy saving and environmental friendliness. “Egyptene” is the trademark of the company’s products and is considered one of the best known products in Manufacture of polyethylene locally and internationally. The company also produces intermediate products such as butane and butene.
Related news
