Arab Finance: Speed Medical Company (SPMD) reported a 33.8% year-on-year (YoY) drop in its consolidated net losses after tax and non-controlling interest in the first half (H1) of 2023, garnering EGP 49.008 million, compared to EGP 74.036 million, the company stated on September 27th.

The company incurred EGP 41.22 million in operating losses from January through June, down from EGP 67.385 million over the same period of last year.

Standalone financials showed net losses after tax of EGP 44.829 million in H1 2023, versus EGP 70.584 million in H1 2022.

Meanwhile, standalone operating losses recorded EGP 37.027 million, down from EGP 63.839 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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