Egypt: Speed Medical’s consolidated losses narrow 12.46% YoY in 9 months

Egypt: Speed Medical’s consolidated losses narrow 12.46% YoY in 9 months

Arab Finance: Speed Medical Company (SPMD) reported a 12.46% year-on-year (YoY) drop in its consolidated net losses after tax and non-controlling interest in the first nine months of 2023, incurring EGP 73.018 million, compared to EGP 83.411 million during the same period a year earlier, the company stated on December 24th.

Operating revenues declined to EGP 46.860 million during the January-September period, compared to EGP 104.294 million during the first nine months of 2022.

Standalone financials showed net losses after tax of EGP 66.896 million, down from EGP 78.010 million.

Established in December 2015 and listed on the EGX in March 2019, Speed Medical is a Cairo-based company that operates in the healthcare sector.

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